The price of a litre of petrol has exceeded €2.60 for the first time. Consumer collective UnitedConsumers reported on Thursday that the national recommended price for a liter of Euro95 rose by 1.5 cents to €2.603. Pump prices have been climbing in recent days, following a sharp rise in oil prices linked to the ongoing conflict involving Iran.
The recommended price of diesel also increased on Thursday, rising by 2 cents to €2.577 per liter. Diesel prices have been edging upward again after a significant drop earlier this month. On April 8, diesel reached a record high of €2.819 per liter. Recommended prices are typically charged at motorway stations, while motorists can often refuel more cheaply elsewhere.
Impasse
Oil prices have reached their highest level in four years in recent days, driven by tensions in the Middle East. The United States and Iran remain at odds over the conditions for reopening the strategically crucial Strait of Hormuz.
Swings
Earlier this month, pump prices fell amid optimism that the Strait of Hormuz might reopen, according to UnitedConsumers fuel expert Derk Foolen. “The diesel price, in particular, responded strongly, dropping by more than 30 cents in two weeks. Diesel reacts more sharply because petrol is mainly produced in Europe, while diesel supplies depend more heavily on the Middle East”, he explained.
Foolen warns that if oil prices continue to rise, pump prices will follow. “Diesel will respond more strongly and could even overtake the petrol price again.” However, oil prices did show a decline over the course of Thursday.
@anp | NEWSBRAINPORT
