Paul van Selms, a market expert from United Consumers says that the increased oil production won’t lead to a lower cost ride to the pumping station. According to him, the additional oil that is extracted from the ground will be necessary to meet the increasing demand that is driving current economic growth.
On Sunday, the oil cartel OPEC reached an agreement with other oil-producing countries including Russia to pump more oil. A day after the production agreement, the petrol prices in Netherlands have not changed. A barrel of crude oil costs about 2 percent less. A drop in oil prices usually means a drop in pump price. It could happen quickly but it is market forces. Van Selms states that it is necessary to wait for a supplier who breaks through and lowers prices.
According to an expert, petrol prices change are also affected by the 58 per cent of taxes in the Netherlands. It is not surprising that the large amount of VAT and excise taxes per liter cost a lot. Van Selms says that the government is responsible for high petrol prices.
Van Selms said that small fluctuations in the petrol price each day are “not very exciting”. It’s more about the long-term, and the expert says there is no evidence of a market imbalance. “The oil prices are now at a level where everyone can live with them. Let’s be content with this balance.
According to UnitedConsumers, the Netherlands’ petrol price has reached its highest point ever. The suggested retail price of a liter E10 (Euro95), was 1,962 Euros. It’s that time. Pump owners may choose to go against the recommendations of major oil companies. Gas stations on the highway are where motorists will pay the highest prices. Fuel-zoeker.nl has found that it’s still possible to fill up E10 at some Dutch pumps for just 1.70 euros per Liter.