Gasoline about 10 percent cheaper than at the beginning of this year

The price of gasoline at Dutch pumps will fall by around 10 percent this year, despite the fact that the price rapidly rose to its highest level following the outbreak of war in Ukraine. However, a few days before the turn of the year, it remains inconsistent. When the temporary excise tax reduction expires during the course of next year, prices are likely to rise again significantly.

On Monday, the national recommended retail price for a liter of Euro95 was 1,899 euros, according to figures from consumer collective UnitedConsumers. That is significantly lower than the 2,111 euros around New Year's Eve at the beginning of this year. But in March, the price per liter was briefly above 2,50 euros.

However, gas station owners can deviate from the price recommendations of the major oil companies. Normally, motorists only pay these prices on the highway. But in order to provide some relief to motorists, the government decided on April 1 to reduce the excise tax. Including VAT, this meant a price drop of more than 20 cents per liter.

Later, oil prices worldwide rose again due to the European boycott of Russian oil. As a result, the petrol prices in the Netherlands peaked again at over 2,50 euros in June. As the oil markets calmed down again, gasoline also gradually became cheaper here. This was partly due to expectations that demand for oil in China would decline as a result of slower economic growth there. A recession is now also looming in many Western economies.

However, diesel costs more than at the beginning of the year. The average recommended retail price is now 1,892 euros, compared with 1,741 almost 12 months ago. Diesel was sometimes even more expensive than gasoline this year.

This was due to the high demand for the substance, which was also in demand in the industry- and transport sector. Experts pointed out that there has been a shortage of diesel fuel in Europe for some time. Until this year, this problem was solved by supplying diesel from Russia, which is no longer possible.

How prices at the pump will continue to develop depends on several factors. For example, it will also depend on whether the major oil states of the oil cartel OPEC want to further reduce their production in order to prop up prices. The reduction in excise duty on fuels in the Netherlands was actually supposed to last until the end of this year.

However, the government extended the measure until the middle of next year. After that, the intervention will be phased out. Sooner or later, motorists will have no choice but to pay more taxes again when filling up.