Although electric driving is becoming increasingly popular, the majority of people will continue to tap petrol or diesel at the pump for the time being. Hobbyists, who perhaps drive electric during the week, prefer to keep the stuff in their project car until the end of time. Unfortunately, we have bad news for the majority of motorists: the fuel will probably remain at the price. The suggested retail price of petrol is currently around 2 euros. This is why gasoline remains expensive.
Why is gasoline expensive in the Netherlands?
Let’s start with the thirst in the Netherlands and Belgium: it is not big enough to drastically influence the price. Incidentally, the number of kilometers driven in the Netherlands is reasonably back to the level before the corona time. When global demand for gasoline dropped dramatically last year, the price dropped dramatically. The oil countries then started to produce less, so that the price for an oil barrel increased again when demand rose.
Then what is the reason?
Excise duties in the Netherlands remain a major cause, but that is well known. According to Erik de Vries of NOVE (Netherlands Organization for Energy Suppliers), the countries within OPEC do not agree on how much oil should be extracted from the ground. That’s what he says to BNR. OPEC stands for Organization of the Petroleum Exporting Countries, or simply Organization of Petroleum Exporting Countries. In the United Arab Emirates, the countries within OPEC want to keep the oil tap closed. This keeps the price high.
No help from America
The US is not a member of OPEC and would now normally fill the gap in demand. The problem is that the new president Biden is a lot less eager to tap new oil wells, says De Vries. Banks in America are also less likely to take out loans for oil companies. According to De Vries, it may well be that 2 euros per liter will remain the norm due to the ongoing oil shortage and rising taxes in the Netherlands.