Unrest in the Middle East
Unrest in the Middle East is always a recipe for higher oil and fuel prices. Now, oil prices are rising again, and you will notice that at the pump.
Fuel prices were decreasing nicely earlier in the spring, but now the road upwards has clearly been taken again. Certainly, the developments of the past weekend are not helping in that regard. The attacks between Israel and Iran have a significant effect on oil prices.
On Friday, oil prices already rose by about 8 percent. On Monday, there is another increase. A barrel of American oil has become 1.1 percent more expensive and now comes out at 74 dollars. Brent oil became another 0.9 percent more expensive and now costs 75 dollars. Whether there will be further strong increases depends on how the situation in Iran develops and especially whether the Strait of Hormuz remains unimpeded.
The average national recommended price for E10 gasoline went up by 2 cents to €2.124 on Monday, the diesel price rose by 4 cents to €1.845, according to figures from UnitedConsumers. These are prices that you usually encounter mainly at highway gas stations; prices are lower at local and especially unmanned gas stations.