July 6, 2022

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Gasoline price is only a few cents away from the new record |  Currently

Gasoline price is only a few cents away from the new record | Currently

Gasoline price is rising rapidly and there is a new record looming on the horizon. The current record goes back to March 10 and is 2,502 euros per liter. Today, the suggested retail price for one liter of gasoline is €2.444, according to figures from UnitedConsumers.

“There is definitely a record-breaking opportunity,” says UnitedConsumers Director Paul Van Silms. “Before prices started going up, we had to get used to the price of 2 euros per liter. Now we hope so.”

According to Van Silms, the fact that prices have risen by a few cents in recent days has to do with the partial oil boycott announced by the European Commission. “It’s been in the air for a while. But hanging in the air is a different thing than it is.”

Oil that is no longer obtained from Russia has to come from somewhere else. “It’s not easy,” says Van Silms. Oil that comes from elsewhere also has a different composition. This requires a different refining process. Then there is market speculation and solidarity with Russia from certain countries.

The excise tax cut that was introduced here on April 1 has almost evaporated. Before the excise tax reduction, the recommended retail price of one liter of gasoline was 2,461 euros. We are now 2 cents away from that. The recommended retail price of diesel is now €2131 per liter. This was a record price of €2,375 on March 10.

Germany today lowers the tax on gasoline by 35 cents a liter for three months and the excise tax on diesel by 17 cents. German gas station operators at the border have already announced that they are expecting large crowds due to Dutch motorists coming to refuel.

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By the way, not all gas stations in Germany will immediately experience a decrease. They first use the old stock.