The price of petrol at the Dutch pump is heading for a fall of about 10 percent this year. And that while the price quickly rose to the highest level ever after the outbreak of war in Ukraine.
However, with a few days to go before the turn of the year, the picture remains erratic. If the temporary reduction in excise duty is phased out in the course of next year, prices will probably rise again.
Euro 95
On Monday, the national suggested retail price for a liter of Euro95 will be 1,899 euros, according to figures from consumer collective UnitedConsumers. That is significantly lower than the 2,111 around New Year’s Eve at the beginning of this year. But in March the liter price briefly exceeded 2.50 euros.
Pump holders can deviate from the recommended prices of the major oil companies. Usually motorists only pay those prices along the highway. To accommodate motorists, the government introduced an excise duty reduction on 1 April. Including VAT, that meant a price drop of more than 20 cents per litre.
Boycott Russian oil
Later, oil prices worldwide rose sharply again due to the European boycott of Russian oil. As a result, the petrol price in the Netherlands peaked again in June at more than 2.50 euros.
As calm returned to the oil markets, petrol gradually became cheaper again. This was partly due to expectations that demand for oil in China will decline due to slower economic growth there.
Recessions are now also looming in many Western economies.
Diesel more expensive
You will spend more on diesel than at the beginning of this year. The average suggested retail price is now 1,892 euros, compared to 1,741 almost twelve months ago.
Diesel was sometimes even more expensive than petrol this year. This is due to the high demand for the stuff, which is also in demand in industry and the transport world.
Experts have pointed out that there has been a shortage of diesel in Europe for some time. This was solved until this year by the supply of diesel from Russia, but that is no longer possible.
What the prices at the pump will do in the near future depends on several factors. For example, it will also be important whether the major oil countries of the oil cartel OPEC want to reduce their production even more in order to prop up prices.
Excise duty reduction
The reduction of excise duty on car fuel in the Netherlands would actually last until the end of this year. But the government has extended the measure until the middle of next year. After that, the surgery will be phased out. Sooner or later, motorists will have to pay more tax when they fill up.