The average recommended petrol price set by major oil companies in the Netherlands rose above €2.50 per litre on Tuesday morning. Prices at the pump have increased sharply in recent weeks due to the war in the Middle East.
According to consumer organisation UnitedConsumers, a litre of Euro95 now costs an average of €2.504. This is almost 2 cents more than on Monday. The price is now close to the record level reached in 2022, when fuel costs surged after Russia invaded Ukraine. At that time, the highest recorded price was €2.505 per litre.
Fuel expert Derk Foolen of UnitedConsumers said on Monday that prices were likely to rise above €2.50 per litre quickly. Foolen expects continued unrest in the oil market due to the conflict. As a result, pump prices could increase further in the coming period.
Diesel price
Diesel prices have also been affected. Because of the blockade of the Strait of Hormuz, many oil tankers are unable to leave the Persian Gulf. This has pushed oil prices sharply higher in recent days.
The price of diesel at Dutch petrol stations recently exceeded €2.50 per litre, before falling slightly. The average recommended price for diesel now stands at €2.482 per litre.
Recommended retail price of expensive pumps
Motorists may still be able to save money by choosing where they refuel. The recommended price is usually charged at more expensive stations, such as those along motorways. At other locations, prices can be several tens of cents lower per litre.
Oil prices continued to rise on Tuesday morning after their first decline in almost a week on Monday. US oil and Brent crude, the benchmark for oil from the Middle East and the North Sea, both increased by about 5 per cent.
Traders appear to have little confidence in the success of US plans for a coalition to protect shipping through the Strait of Hormuz. At the same time, mixed signals are coming from the Trump administration about how long the war may last. Iran is also carrying out frequent attacks in the region, with ships sometimes being hit.
@anp | NEWS BRAINPORT
