Petrol Price Rises Above 2 Euros Per Litre

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Since Friday, more than 2 euros have to be paid for a litre of petrol. At least that is the average national suggested retail price that consumer collective United Consumers keeps track of daily. It is the first time that prices have risen above 2 euros.

 

The average suggested retail price is 2,001 euros. The record low since United Consumers keeps track of prices was on December 13, 2001, when a gallon of gasoline cost $1,049. As a result, in addition to the petrol price, the prices for LPG and diesel are also at record highs. 1.026 euros must be paid for LPG. A litre of diesel costs 1,659 euros.

The higher prices are the result of the rising oil price. Earlier this week, a barrel of Brent oil had to be paid more than $80 for the first time since 2018. In one year, oil prices have risen by about 50 percent.

Oil prices and consumption have risen rapidly this year as the economy recovers. More and more people have been vaccinated against the virus, and corona restrictions, including on travel, have been phased out. But the capacity of the oil producers has lagged behind. 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.

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