OPEC’s oil cartel, which could provide an alternative to Russian oil, has repeatedly announced that it will no longer turn on Europe’s “tap” to push the price down. However, the price of oil is not the only thing that affects the price of gasoline.
2. Dollar rate
An important factor that plays in the background is the dollar exchange rate. Dutch companies pay for oil in dollars, and “this is very important,” said United Consumers’ Paul van Selms. “The dollar has only gotten stronger over the past six months.” Six months ago a euro was worth $1.13, now it’s worth $1.06. As a result, buying oil is already becoming more expensive for Dutch companies.
3. High Refinery Prices
Costs are rising in refineries that convert oil into gasoline and diesel. ING economist Rico Luman says he uses a lot of energy and energy prices have also risen sharply recently. According to Luman, the price will rise as less fuel comes from Russian refineries.
Although oil is not (yet) covered by the EU sanctions policy, Jilles van den Beukel, energy expert at The Hague Strategy Research Center (HCSS), confirms that “companies are hesitant to sign contracts with Russian refineries”. European partners currently consider it risky to sign new contracts.
“It is also the season to perform maintenance,” says Van den Beukel, “when it comes to a standstill.” Fewer small refineries have also been opened in recent years. This means that refineries operating for European countries charge high prices for both petrol and diesel.
4. More demand for petrol
Economist Luman noticed that the price difference between petrol and diesel has widened again. “Part of the explanation is that the demand for certain petrol is now growing faster. Diesel prices have also risen relatively quickly in the past three months. It’s the season when more people start driving again, and you also see more commuters. traffic.”
Ewout Klok, head of the Beta Gas Station Interest Association, disagrees: “It’s not that bad. We don’t necessarily realize that more fuel is being sold.”
Source: NOS
Smith Charles is a talented entertainment journalist and author at The Nation View. He has a passion for all things entertainment and writes about the latest movies, TV shows, music, and celebrity news. He’s known for his in-depth interviews with actors, musicians, and other industry figures, and his ability to provide unique perspectives on the entertainment industry.
