Fuel prices have been falling for some time now. We are still a long way from last year’s level, but there is a good chance that a liter of petrol will soon cost less than 2 euros.
Prices at the pump have been falling for more than a week. For example, you pay a few cents per liter less for petrol than last week. according to figures from consumer collective UnitedConsumers. Director Paul van Selms expects that gasoline may soon cost less than 2 euros.
Until recently, fuel prices rose sharply. Two months ago, the average national suggested retail price for petrol even exceeded 2 euros for the first time. Since then, that price has continued to rise, reaching its highest point so far on November 18: €2,145 per litre. You also paid record prices for diesel and LPG.
The price for petrol has now fallen to €2,117 on Wednesday. Although that is a small decrease, the price is expected to fall further, as a barrel of crude oil became 20 percent cheaper last month; in no month this year has that price fallen so much. This was mainly due to the concerns about the new variant of the corona virus. Another factor is that there has been less demand for oil for some time.
Don’t be too optimistic
Although Van Selms foresees that prices will fall further, last year’s prices will not just return: “We should not expect prices of around €1.80.” This is primarily due to the fact that a large part of the price consists of taxes, which change only slightly with the fuel prices. In addition, the value of the euro has fallen against the dollar. And because most oil on the world market is paid in dollars, oil has become more expensive for euro countries. Still, Van Selms expects that a refueling will hurt the wallet a little less in the near future.
It will probably take quite some time, but there is a good chance that ‘old’ prices will eventually be charged again in the new year. At least that is the expectation of an expert from the American investment company T. Rowe Price. That is mainly based on what is currently happening in the oil market. In the Netherlands, however, the lion’s share of the fuel price, as stated, depends on taxes.
– Thanks for information from Autoweek.nl