Gasoline prices have risen again due to restrictions on oil production
The price of gasoline has risen again. According to United Consumers, you now pay an average of 2,301 euros for a liter of Euro95! Cause? Production restrictions in oil countries such as Russia and Saudi Arabia.
A barrel of American WTI oil (159 liters each) rose in price by more than 1 percent to $92.50 on Tuesday morning. A barrel of Brent, the benchmark for oil from Europe, the Middle East and Africa, currently costs more than $95, up 0.7 percent from a day earlier. Prices have risen by more than 30 percent since oil producers Saudi Arabia and Russia announced production cuts in June.
Why the price of gasoline is rising
As a consumer, you immediately notice that the price of oil at the pump is higher. The average petrol price is 2.30 euros per liter. Yesterday it was reported that many Dutch people are in financial difficulty due to high gasoline prices, while an increase in consumption tax is planned for January 1, 2024.
It remains to be seen whether the consumption tax increase will actually be implemented. A majority of the House of Representatives opposes the increase of about 21 cents per liter. This would mean you would spend €9.45 more on a 45 liter refill than you did before January 1st. And even though the price of gasoline is already high.