Autoclub Calls For Fuel Prices To Be Cut

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Autoclub Calls For Fuel Prices To Be Cut
Autoclub Calls For Fuel Prices To Be Cut

Video: Autoclub Calls For Fuel Prices To Be Cut

Video: Autoclub Calls For Fuel Prices To Be Cut
Video: How to cut your petrol costs - Which? investigates 2023, September

The oil price continues to fall. In view of this development, the Auto Club Europa is calling on the mineral oil companies to reduce fuel prices.

Oil prices fell slightly again on Tuesday. A barrel (159 liters) of US West Texas Intermediate (WTI) for delivery in September cost $ 122.99 in late trading. That was 1.74 cents less than at the close of trading the previous day. The price of a barrel of North Sea Brent fell 1.91 cents to $ 123.93.

The increased dollar exchange rate has pushed the oil price down, traders said. According to Commerzbank, this is supported by a decline in global demand. The basic trend on the oil market is therefore downwards.

Oil price still too high

According to the Organization of Petroleum Exporting Countries (OPEC), the current price of oil is still unusually high. OPEC believes an oil price of $ 80 or less is conceivable in the long term, said its President Chakib Khelil. The prerequisite, however, is that the dollar continues to recover and geopolitical tensions subside. "The current price of $ 123 a barrel is not normal," said Khelil, who is also the Algerian oil minister.

Meanwhile, the price of OPEC oil has risen slightly. According to the organization's calculations on Tuesday, a barrel cost $ 123.19 on Monday. That was 56 cents more than on Friday. OPEC calculates its average price on the basis of 13 major varieties in the cartel.

Lowering demanded

The Auto Club Europa (ACE) accused the oil companies of keeping the price of petrol high despite the drop in oil prices. "The petrol station operators have not even passed half of the recent price drop in crude oil on to their customers," criticized ACE spokesman Rainer Hillgärtner on Tuesday in Stuttgart. In the past three weeks, the oil price has fallen by 15 percent - but drivers don't notice much of that.

According to ACE, a liter of premium gasoline has become 10 cents (minus 6.5 percent) cheaper since the beginning of July. The diesel price had fallen by 9 cents and thus by 6 percent per liter during this time. According to the association, the average price for diesel is currently just under 1.42 euros and for super around 1.45 euros. (dpa)