Record-high fuel prices continue to rise; Hard blow for Dutch drivers & gas stations

National recommended fuel prices continued to climb on Wednesday, UnitedConsumers reports, with the organization monitoring prices from major oil companies. The average recommended price for Euro95 had already hit a record high of more than 2.50 euros per liter on Tuesday. The high prices have led to Dutch motorists driving over the border to Belgium or Germany for their petrol.

The recommended price for Euro95 has risen to 2.528 euros, up from 2.508 euros the day before. Diesel has also climbed above 2.50 euros again, now at 2.516 euros compared with 2.486 euros on Tuesday. Diesel first broke the 2.50-euro mark early last week, before dropping slightly afterward.

Fuel prices at the pump have jumped significantly following a sharp rise in oil prices driven by the war in the Middle East. Before the conflict, Euro95 had a recommended price of 2.28 euros and diesel 2.09 euros. These recommended prices typically apply to highway stations, while fuel at other locations is often less expensive.

There could be some respite for drivers, as oil prices took a significant dip on Wednesday morning. U.S. crude fell 4 percent to 92.31 dollars per barrel, while Brent crude dropped 2.7 percent to 100.64 dollars per barrel.

Iraq has reached an agreement with Kurdish authorities to restart oil exports through Turkey, avoiding the Strait of Hormuz. The oil will be shipped via pipeline to the Turkish port city of Ceyhan for export.

High fuel taxes in the Netherlands are prompting an increasing number of drivers to fill up in Belgium and Germany, where prices are lower. In Belgium, Euro95 costs about 45 cents less per liter.

The ANWB notes that the Netherlands has the highest fuel taxes in Europe and has long advocated for a tax cut to support motorists. Despite this, Prime Minister Rob Jetten has no intention of intervening in the rising fuel prices.

Fuel stations in the Netherlands have experienced an average revenue decline of 10 to 20 percent in recent weeks, attributed to soaring fuel prices, according to Martin van Eijk, chairman of the Dutch petrol station association Drive. He notes that border-area stations and those along highways are noticeably quiet.

“Border stations are hit even harder, with revenues down 40 to 50 percent as money flows to neighboring countries. People are going to great lengths to cross the border to refuel, sometimes bringing jerrycans,” Van Eijk explained.

He notes that petrol stations across the border in Belgium are experiencing long lines. “Belgians are fed up, leading to significant traffic jams on the roads,” the chairman adds. Even the more affordable fuel stations within the Netherlands are reporting falling revenues, he says.