The legal maximum prices for diesel and petrol depend on the fluctuations of the quotations of oil products on the international markets. These have increased due to the Russian invasion of Ukraine. The federal government has implemented a temporary reduction in excise duties on fuels, at least until September 30. Without that intervention, the price would be much higher.
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There is still no agreement within the EU countries about a European embargo on Russian oil. But if it does come to that, Damien Ernst mainly expects a higher diesel price, of even 3 or 4 euros per liter.
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“The biggest problem is the diesel refining capacity”, explains the energy specialist from the Faculty of Applied Sciences in ‘La Dernière Heure’. Because under an embargo, Russian oil would be replaced by American shale oil. But with that, it “takes much more time” and it is “much more difficult” to produce diesel, which he believes will lead to a higher price.
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