2023-10-25 18:27:15
There have been quite a few ups and downs with the oil price recently. With the terrible events in Israel, fears of supply bottlenecks in the Middle East drove it up to just under $94 per barrel (159 liter barrel).
It has now calmed down somewhat: on Wednesday, Brent oil was temporarily quoted at $87.90 per barrel after the price had fallen for several days in a row.
1,811 euros for one liter of Super E10
The price increase at the gas stations has at least not continued as much as it seemed at the time. As the General German Automobile Club (ADAC) announced on Wednesday after evaluating the prices of 14,000 gas stations, prices for gasoline and diesel fell slightly over the week.
A liter of diesel recently cost an average of 1,822 euros, a decrease of 0.8 cents compared to the previous week. Drivers had to pay an average of 1,811 euros for a liter of Super E10, around 0.1 cent less than a week ago.
“The price of crude oil is currently directly affected by developments in the Middle East,” write the ADAC fuel experts. In terms of détente tendencies and diplomatic solutions, a noticeable decline is just as conceivable as a significant increase to new annual highs if the conflict escalates and spreads to other countries. The recent decline in prices is probably due to the fact that fears of a spreading Middle East conflict have subsided somewhat.
Diesel more expensive than Super E10
The ADAC believes that the fact that diesel remains above the price of gasoline in general fuel price developments is probably due in large part to the demand for heating oil that usually begins in the fall and to the continued high demand for diesel from the Asian region. Diesel and heating oil are closely linked in production.
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Heating oil is noticeably more expensive now than in summer. Recently, however, as the price of crude oil has fallen, the price of heating oil has also fallen slightly again. According to figures from the Internet platform Heizoel24, to which 500 oil traders report their prices, 100 liters recently cost an average of 111.08 euros. Last week the price was at times as high as 117 euros, but in the summer it was also as high as 87 euros.
“The downward trend today is being driven by the poor economic data from the EU,” writes the portal in its market report. The latest purchasing managers’ indices showed recessionary trends that the market viewed as damaging to oil demand.
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