The war in Ukraine raises the price of petrol in Finland.
28.2. 20:16
Gasoline The price at Finnish gas stations has risen to a historic high in euro terms due to the war in Ukraine.
According to the price monitoring website, the average price of 95-octane petrol on Sunday was EUR 1.96. On Monday, the price of petrol reached 2.22 euros at a single gas station in Pori.
“If we look at the price in euros, we are at the highest level ever. Finland has never had to pay so much for fuel, measured in euros, ”says a specialist at the Automotive Information Center Hanna Kalenoja.
According to price statistics from the Automotive Information Center and Statistics Finland, the price of 95-octane petrol has never been as high in euro terms since 2002, when price data are available. Price monitoring does not take into account monetary developments.
In Finland Taxes account for about 60 percent of the consumer price of gasoline, and the rest of the price consists of crude oil prices, refining costs, renewable fuel prices, and exchange rates and freight costs.
Kalenoja of the Automotive Information Center says there has been a recent rise in petrol prices a sharp rise in the price of crude oil on the world market.
“The price changes in recent days and weeks show the situation in Ukraine. It works because Russia is one big player in the field of raw materials. ”
The rise in the price of ten dollars a barrel in crude oil will raise the price of petrol in Finland by 5-6 cents per liter, according to Kalenoja’s estimate. One barrel is about 159 liters.
Crude oil the price rose sharply on monday after western countries imposed extensive economic sanctions on the russian financial system over the weekend.
The market fears that the sanctions will cause oil supply difficulties from Russia. In addition, there are concerns about the disruption of Russia’s natural gas supplies to Europe if Russia takes counter-sanctions. Disruptions in natural gas supplies could increase demand for oil.
“Natural gas and oil are interchangeable. If natural gas is not available, oil-based products can be burned in natural gas power plants and heat production plants instead of natural gas, ”says Kalenoja.
The price of a barrel for the April delivery of the North Sea Brent reference price rose by 2.4 per cent at $ 100.25 in London at 5 pm Finnish time. The price peaked at $ 105.07 on Monday.
The April contract expires on Monday. The May futures moved in the afternoon at $ 97.26. At the same time, the price of a barrel of WTI quality in the United States moved up 3.4 percent to $ 94.68 from $ 99.10 earlier on Monday.
The rise in oil prices was offset this afternoon by news from unnamed sources in international news agencies that the United States and some other countries are planning to release oil from their crude oil reserves to the market.
#Energy #price #petrol #rose #Fuel #paid #euros #automotive #specialist
