Dutch fuel prices dropped on Friday on Mideast peace hopes

Dutch advice prices for gasoline and diesel fell again on Friday, extending a two-day decline at the pump after oil prices dropped sharply on optimism for a quick end to the war in the Middle East, consumer group UnitedConsumers reported.

The price of a liter of gasoline dropped 1.1 cents to 2.617 euros on Friday. Diesel fell 3.5 cents to 2.521 euros a liter. The declines followed a slight drop on Thursday, when the advice price for Euro95 gasoline eased to 2.630 euros from 2.646 euros the day before, and diesel slipped to 2.561 euros from 2.587 euros on Wednesday. Wednesday’s gasoline price had hit a new record high. The record for diesel was set on April 8 at 2.819 euros a liter.

Major oil companies charge these recommended prices only at the more expensive highway gas stations. Prices at other stations are often lower.

Oil prices plunged on Wednesday after a U.S. news outlet, Axios, reported that the United States believes it is close to a conceptual agreement with Iran to end the hostilities.

A peace deal could reopen the Strait of Hormuz to oil tankers; normally, one-fifth of the world’s crude oil passes through that vital waterway.

By Friday, Brent crude was a fraction higher at 100.1 euros a barrel. U.S. oil fell 0.4 percent to 94.4 a barrel in euros. On Thursday, U.S. oil stood just above 95 dollars a barrel while Brent traded below 102 dollars a barrel.