And that was the last time at the beginning of this year, says UC director Paul van Selms. “We had just come to a new reality after the outbreak of war in Ukraine. Now inflation plays a role.”
Because the oil-producing countries also have to deal with that, so they want more money for their oil. Higher fuel prices will push inflation even further here.
On Monday, trading prices for oil already rose sharply after the OPEC countries announced that they would turn off the tap in order to boost prices. “There are predictions that the oil price will rise above 100 dollars a barrel again,” says Van Selms. “A price of 70 dollars or 80 dollars is considered too low by the oil-producing countries.”
The price increase at the pump will continue for the time being, UC predicts. The suggested retail price for diesel is now 1.76 euros, which is also slightly more than at the beginning of this week.
