Last month, diesel was more than 20 cents per liter more expensive. On a full tank, that saves €8 to €12. Gasoline has also become slightly less expensive in recent weeks.
Fuel prices have fallen due to the fall in oil prices. The price of ‘black gold’ peaked at the beginning of June, but is now more than 10% lower due to the expectation that the economy will slow down and less oil is needed.
Record
The petrol price last month reached a record of more than € 2.50 per liter, according to figures from price comparator UnitedConsumers. Diesel and LPG also rose to great heights.
Prices at the pump could have been even higher if the government had not reduced fuel taxes by April 1. The excise duty on petrol and diesel was then reduced by 17 and 11 cents per liter respectively. This temporary reduction will run until the end of this year.
Hole in wallet
Despite the fact that fuel is becoming slightly less expensive, the high energy prices leave a hole in many people’s wallets. The gas price has more than doubled in the past year, partly due to the war in Ukraine. Budget institute Nibud has warned that one in three households is currently unable to make ends meet due to the high prices of energy and food.
Experts believe that fuel prices will remain high for the time being. UnitedConsumers owner Paul van Selms does not expect the petrol price to return below €2 this year.