Still close to petrol price
Just like petrol, diesel became considerably more expensive this year, but the increase was stronger than for petrol. It even became more expensive than gasoline. Now, however, the diesel price is falling faster than the petrol price; in less than a month, more than 30 cents per liter went off.
The price of a liter of diesel fell sharply in November, according to figures from consumer collective UnitedConsumers. The suggested retail price was €2.25 at the beginning of this month, three weeks later that price is €1,928. That is a decrease of more than 30 cents per litre. Due to the sharp drop, the diesel price is now at its lowest point since the beginning of March and is approaching pre-war levels in Ukraine. Since the Russian invasion and the ensuing shock to the commodity market, fuel prices have risen sharply. However, the current price is still significantly higher than in previous years.
The decline started at the end of October after the effects of strikes at French oil refineries slowly faded. Due to the work stoppages, the French had to get their fuel, especially diesel, from abroad. That drove the price up then. In addition, the price of oil, the main ingredient of the fuel, has fallen in recent weeks. At the beginning of this month, a barrel of Brent oil still cost around 95 dollars (more than €91). Today that is only $ 85.60, converted almost 10 percent lower. As a result, not only diesel, but also gasoline has fallen in price. On Friday the suggested retail price for a liter of petrol is €1.95, at the beginning of November it was still €2.15.
The fact that the diesel price is falling so fast is against many expectations. At the end of October, there were still fears that the diesel price would rise further and that shortages could occur. A little earlier, in September, a price peak for diesel at the beginning of the new year was taken into account. However, tightened corona measures in China have made a nice dent in oil prices. At the same time, the imminent boycott of Russian oil is lurking and that can mainly cause diesel to become more expensive again. These are still uncertain times at the pump, but for now the weather is a bit more favorable.
– Thanks for information from Autoweek.nl