Oil prices keep on rising and fuel prices are also rising happily. In the meantime, the ‘corona valley’ in terms of prices at the pump is more than behind us.
The price of a barrel of Brent crude oil reached its highest level in more than a year on Monday, and prices at the pump have also been steadily rising for some time. In the meantime, you have lost at least the same as in the first months of 2020, making the cheap refueling as a result of the corona crisis really a thing of the past. Figures from United Customers it appears that the average national recommended prices for petrol and LPG are even higher than in January 2020. Diesel is still just below that, but is already more expensive on average than a year ago. The suggested retail price for petrol is now € 1.837 per liter, for diesel it is € 1.507 per liter and LPG € 0.932 per liter.
Fuel prices already fell at the beginning of 2020, partly because of the unrest in the Middle East, but because of the lockdowns from March onwards, prices have already plummeted. During the rest of 2020, the prices of diesel and petrol in particular remained remarkably low compared to previous years, but the way up was found again around the turn of the year.
The oil price obviously plays an important role in this. The rising price is partly related to an attack by rebels on an oil port in Saudi Arabia. The fact that the Opec members decided last week not to increase oil production also plays a role, it reports AD. For Europe, it is even more unfavorable that oil is billed in dollars, while the dollar is currently becoming considerably more expensive. Although fuel prices depend on more things than the oil price, for the time being we no longer have to count on prices as we experienced them in 2020.