Almost everything is becoming more expensive, but not petrol and diesel | NOW

Inflation is at its highest level since 1975 and we are paying more for gas, electricity, food, drink and much more. Only petrol and diesel have become less expensive and even dampen inflation. From figures from UnitedConsumers it turns out that 1 liter of petrol now costs 2.25 euros, where the price two months ago was 2.50 euros.

The diesel price went from more than 2.37 euros on the record to 2.10 euros. “The oil price has also fallen considerably,” said UnitedConsumers director Paul van Selms. “The dollar is still worth more compared to the euro, so that keeps the price relatively high.”

If the euro had been stronger, the price would have fallen further, Van Selms believes. “The tension in the market will also remain. But the fear of a recession could push prices even further.”

Statistics office CBS reports that petrol and diesel are the inflation now temper. “The price development of motor fuels had a depressing effect on inflation.” Fuel is still much more expensive than a year ago, but the difference is less than a month earlier.

“Fuels were 25 percent more expensive in July than in the same month a year earlier. In June, the annual price increase was 35 percent,” according to CBS.

Gasoline prices rose last year. After almost everything was shut down by the corona crisis, demand quickly picked up again and that drove prices up. The war in Ukraine added to this.

Earlier this week, the oil-producing countries decided to open the oil tap a little further. Those countries see their revenues decline if supply increases strongly, but demand does not.

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Russia is also part of those countries and has every interest in keeping the price as high as possible now that income from gas, for example, is lower due to the sanctions.

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