The increase in gas and oil prices is immediately noticeable at the pump in Drenthe today. Gas stations are experiencing a sharp increase in demand, while motorists are filling up their tanks as a precaution. “All telephones are ringing off the hook today, everyone is afraid that it will become even more expensive. Everyone wants to have the tank full,” says director Richard Fieten of Fieten Olie from Hollandscheveld.
The European gas price rose by almost 50 percent today due to the attacks by the United States and Israel on Iran, followed by retaliation. In particular, the shutdown of shipping through the Strait of Hormuz, an important transit route for liquefied natural gas, is driving up prices.
Richard Fieten immediately noticed the impact in Drenthe at the pump last weekend. According to him, crowds arose, partly driven by panic among motorists. “On Saturday and Sunday, many people refueled their cars as a precaution before prices would rise further. It was almost impossible to supply the gas stations.”
The agricultural sector is also noticing the tension. “You see the same pattern among farmers and contractors: everyone wants to be sure of their fuel,” says Fieten, who now has 88 gas stations throughout the Netherlands with his company.
Although the increase is large in the short term, Fieten expects the peak to decrease somewhat. “The oil countries of the OPEC+ oil cartel have decided to increase production, so the increase will decrease somewhat in a few days.” The countries have agreed to increase production by 206,000 barrels per day in April.
“That’s usually what happens in these types of war situations: first panic and a high peak, then it drops a bit,” says Fieten. “It won’t go back to the old level straight away, but the biggest peak will be gone.”
Further developments depend greatly on the duration of the war in the Middle East. “If it really continues and other targets are bombed, you will of course get even more panic,” Fieten warns.
It is not a pleasant time at the pump for motorists. Fuel prices were already high, partly due to excise duty increases this year. In addition, new European measures are in the pipeline: from 2027 there will be a follow-up tax on excise duties and an additional levy from 2028. Fieten: “It was already expensive and that doesn’t make it any more fun.”
He is not concerned about declining clientele. “It will continue,” Fieten emphasizes. “People have to keep filling up, whether it becomes more expensive or not.”
