Gasoline price almost hits 2012 ceiling | Money

The price of gasoline, which took a plunge from March last year as a result of the pandemic outbreak, has risen sharply since the start of the new year. The suggested retail price for Euro95 (E10) tracked by UnitedConsumers increased to € 1,889 on Monday. This has almost reached the peak of € 1,895 in 2012. The price of diesel, at € 1.5119 per liter, is now close to the peak of € 1.558, which was also hit in 2012.

The gasoline price thus follows the solid progress of oil prices, which have already been undergoing an impressive recovery from the first quarter of this year. For example, at $ 67 a barrel, the Brent price has already returned to the level it had before the start of the corona crisis.

OPEC and vaccines

The prospect of a reopening of the economy sometime later this year with the rollout of the vaccination program has given black gold a strong boost. In addition, members of the OPEC oil cartel made a major contribution to the sharp increase by closing the oil tap for a long time.

At many local petrol stations, the petrol price is still well below the suggested retail price. To persuade consumers to come to their pump, the major and minor oil companies apply discounts on the price.

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