The price of petrol in the Netherlands continues to rise. According to consumer collective UnitedConsumers, the recommended retail price for E10 (Euro95) is now at a record €2,158 per litre. It may not stop there, because oil prices on the global oil market could just rise further if China starts to replenish its oil stocks.
Oil prices were already on the rise last week and are currently at their highest level in years. This is due to tensions on the border between Russia and Ukraine and the high demand caused by the recovery from the corona crisis. Another factor is that the large oil-producing countries of oil cartel OPEC and ally Russia are willing to open the oil tap considerably extra. The ramping up of production is done very carefully and every limited production increase is discussed at length.
Major oil trader Vitol Group warns that China may want to replenish its oil reserves. These have shrunk recently, while it is wise for large state-owned companies there to also have enough oil on hand. If more oil is indeed bought from China in the coming days, this could further boost oil prices.
In addition to the petrol price, the recommended retail price of diesel in the Netherlands is also at a record high, at €1.846 per litre. Pump owners can deviate from the recommended prices in the oil sector, which UnitedConsumers keeps track of. Motorists usually pay the most at gas stations along the highway. According to price comparator fuel-finder.nl, it is still possible to refuel E10 for €1.87 per liter at a cheap pump in the province of Groningen.
– Thanks for information from Autoweek.nl