The Dutch petrol price has risen above 2.10 euros per liter for the first time, consumer collective UnitedConsumers reports that fuel prices will follow. That is already more than 5 percent higher than at the beginning of this month when more than 2 euros per liter had to be paid for the first time.
The average suggested retail price for a liter of E10 (Euro95) rose today by 0.2 cents to 2.101 euros. UnitedConsumers arrives at that price by checking the suggested retail prices of five major oil companies on a daily basis. The suggested retail price of LPG also went up. A liter now costs 1,131 euros. The suggested retail price for a liter of diesel remained unchanged at 1,760 euros.
The price of oil has risen sharply recently. The recovery of the global economy after the corona crisis is driving more demand for fossil fuels and that leads to higher prices. But the capacity of oil producers has lagged. They are now unable to meet the increasing demand well. Another factor is rising energy prices. Gas and coal have risen sharply in price and oil is therefore seen as a good alternative. There is also speculation that supply in the oil market may come under increasing pressure as less investment is made in new fossil fuel projects.
Cheap pumps
The suggested retail price of the oil companies is asked almost exclusively at gas stations along the highway. In other places, petrol is often offered at a cheaper price, because gas station operators there spend less on the rent of the land. That can save up to 20 cents per liter of petrol.
According to price comparator fuel-finder.nl, it is still possible to refuel E10 for 1.80 euros per liter at some cheap pumps in the province of Groningen. Refueling in Germany is also advantageous, because just across the border you only pay 1.64 euros for a liter of E10. On a full tank of an average car, that saves a tenner.
The high oil prices are especially annoying for oil buyers. For the oil-producing countries, it means that oil barrels generate more money. That’s why oil cartel Opec and its allies, including Russia, chose earlier this month to stick with existing plans for a gradual monthly increase in oil production. So they didn’t want to screw it up extra quickly.
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