A full car already costs us 3 euros less per liter in two weeks

A full car already costs us 3 euros less per liter in two weeks
A full car already costs us 3 euros less per liter in two weeks
CopyAMP code

Average fuel prices at the pump this week were €1.70 per liter for petrol and €1.85 for diesel. They remain high, although very far from the peaks reached at the beginning of the year, when prices of up to 2.50 euros per liter were noted on service station billboards. But remember that there is still the cut of excise duties of 30.5 cents, without which we would pay respectively more than 2 and 2.15 euros per litre. The good news is, though, that do the full to the car it should already cost us about 3 euros less and within a couple of weeks.

Behind the price changes

Calculations are soon done. In the first days of September, the exchange euro Dollar had sunk to 0.9750. In those same days, a barrel of oil (Brent) was bought on the international markets for just under 95 dollars. Therefore, for us consumers in the Eurozone it cost us around 97 euros. Translated into litres: 0.61 euros.

This week, the exchange rate climbed up to almost 1.05, while Brent fell to the $92.50 area. The cost per barrel is down to 89 euros, i.e. 56 cents per litre.

Also considering the 22% VAT on fuel, the difference is 6 cents per litre. A full car of 50 liters should tend to cost us around 3 euros less than two weeks ago. It is not said that the reduction in prices has already taken place and in full. Either way, the trend is worth it. Compared to the bullish pressures of a few weeks ago, the picture is evolving more favorably for European consumers.

Not only do you save with the car full

The rise in the euro-dollar exchange rate was faster than expected. Following is the data onAmerican inflation in October, down to 7.7%.

This points to a less marked interest rate hike by the Federal Reserve in the coming months. On the other hand, Brent is not falling as much as it should, due to supply restrictions decided by OPEC precisely to keep quotations high. Crude oil extractions in the US remain below pre-Covid levels, when they rose to first place in the world.

CopyAMP code.

It’s not just about refueling your car at lower costs. A stronger euro and weaker oil both push in the direction of lowering i energy costs and, therefore, inflation. Compared to October, gas prices on the Dutch stock exchange are also down, although they have risen in the last few sessions with the arrival of the first cold days. To date, market forecasts do not signal major shocks between now and the medium term. The euro-dollar exchange rate would rise slightly and Brent would fall just below 90 dollars by the end of 2023. The hope is that the market is underestimating the upward and downward variations respectively.

[email protected]

The article is in Italian

Tags: full car costs euros liter weeks