The recommended retail price for petrol in the Netherlands continues to rise and the 2.30 euros per liter Euro95 is now in sight. Prices on the international oil market are also continuing to rise and have reached the highest levels since early November last year.
According to consumer organization UnitedConsumers, the recommended retail price for a liter of Euro95 is now 2,288 euros. That was still 2,260 euros on Monday. In June last year, the recommended retail price reached a record level of just over 2.50 euros. The recommended retail price for a liter of diesel is now 2,088 euros. That was still 2,025 euros at the beginning of this week. The recommended prices of the major oil companies are usually only asked along highways, because gas station operators may deviate. Fuel prices are often lower in other locations.
Oil prices are mainly driven by production cuts by Saudi Arabia and Russia, while global demand could rise to a record level this year. This threatens to create a large gap between supply and demand in the fourth quarter. The price of a barrel of American WTI oil (of 159 liters) is now almost 91 dollars and a barrel of Brent oil is now worth more than 94 dollars. Since June, oil prices have risen by about 30 percent.
Some analysts believe Brent prices could rise to $100 a barrel due to production cuts. Demand from China, the world’s largest oil importer, may also strengthen due to the Chinese central bank’s support measures for the economy. The prospect of an end to interest rate hikes in the United States and Europe could also boost oil demand.
The pain in the wallets of motorists could become even greater next year. Petrol and diesel prices are likely to rise further due to an excise duty increase in January.
– Thanks for information from Autoweek.nl