The fuel price keeps falling, will we have an affordable winter?
The weekend is just around the corner and we would like nothing more than a bit of good news to end the week. Fuel prices continue to fall. And that’s great for those who still ride on dinosaur juice.
While in an oil-rich state the whole world and his mother are talking about the climate and the abolition of fossil fuels, Henk and Ingrid simply continue to drive in their indestructible Toyota Corolla, Kia Picanto and Volkswagen Caddy. Everything is going well for them, because besides the fact that the political climate in the Netherlands has looked very different since November 22, the price at the pump is also falling rapidly.
Production limitation
Of course, this is all because the cartel (oil cartel in this case) has agreed to reduce production… oh no wait, then the price will actually increase, right? This also surprises Paul van Selms of the UnitedConsumers platform. They keep the average national recommended retail price closely monitored.
Van Selms explains to the nicest newspaper in the south that he also expected the price to rise instead of the fuel price continuing to cool. Especially since the major oil countries have started producing less. However, the small oil countries do not do that, so apparently there is sufficient supply on the market. In addition, America has actually increased production.
Euro rate
Another factor is, as always, the exchange rate of the Euro against the dollar. Oil is paid for in dollars and the exchange rate of the Euro against the Dollar is currently favourable.
![cool fuel price](https://www.autoblog.nl/files/2023/12/brandstofprijzen-1600x1006.jpg)
Refueling abroad
Well, then we won’t have to go to all the German Christmas markets in the near future to fill up the tank cheaply. Well, until the end of the year, that will certainly still be worthwhile for those who drive on petrol. The oil price is low worldwide, so prices in the rest of Europe have also fallen.
Diesel is usually a bit cheaper in the Netherlands. With the new year, the excise duty in Germany will increase by 8 percent, so fuel will become a bit more expensive there.
For those who like to refuel in Belgium, a liter of Euro 95 (or E5 for those who want) is and remains considerably cheaper there. It is better to fill up with diesel (or B7…) in the Netherlands.
Excise duty
In Germany, the excise duty will increase on January 1. So no reduction in fuel prices there this winter. Since we had elections approaching in our country when the budget for 2024 was being discussed in the House of Representatives, the planned excise duty increase of January 1 next has been canceled here.
Just for completeness. For a liter of peut in the Netherlands you pay 79 cents of excise duty, excluding VAT. The average national recommended price of a liter of E5 today is 2.078 euros compared to almost 2.30 euros in September. A liter of diesel has also become about 20 cents cheaper.
And yes, no one fills up at a pump that charges this amount for a liter of fuel. An unmanned pump or a local (white) pump can easily be 10 to 30 cents cheaper.
Will fuel prices continue to cool?
The big question is whether fuel prices will continue to cool in the near future. Can we drive around for an “apple and an egg” this winter? The same Paul van Selms says this to him another newspaper that is for awake Dutch people the following.
He thinks that the bottom of the fuel price is well in sight. A war or other geopolitical misery could throw a spanner in the works. A really cold winter too, by the way.
By the way, Vlad Putain was also in Dubai (but not at the climate summit, because he could be arrested there) and also briefly in Saudi Arabia to argue for a higher oil price. Otherwise he can no longer afford the bombs and grenades.
These are all factors that can stop the price drop and cause it to rise again. So it remains to be seen whether we will have a cool winter in terms of fuel prices.
By the way, prices at the pump are still not low, because before the bad guy from the Kremlin started his special operation in Ukraine, you still paid 1.75 euros for a liter of Euro95 and 1.50 euros for a liter of diesel. Those times were beautiful.
This article Fuel prices continue to cool this winter first appeared on Autoblog.nl.
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