The price of oil is rising, and so are fuel prices!

The price of oil has started to rise, which should have a direct impact on fuel prices, which could also rise.

A few days ago, we were delighted with a drop in fuel prices, which had in fact already begun a few weeks earlier. Excellent news for motorists, after summer holidays not always easy due to the amount gasoline and diesel, not to mention the rise in toll prices. But unfortunately, and if the situation had improved very slightly, the joy was short-lived. Indeed, for the past few days, specialists have been talking about a stabilization of prices and then a new rise. And to the chagrin of the drivers, they were right. Indeed, the price of oil, which had fallen very sharply, is slowly starting to rise. Very bad news, as this may affect the amount paid at the gas station very quickly.

A rising price

This Wednesday, the price of oil indeed recorded its highest level for a month, with a price displayed at 101.22 dollars for a barrel of Brent from the North Sea, which serves as a sort of standard. For its part, the West Texas Intermediate (WTI) rose to 94.89 dollars. High amounts, which can be explained by several things. First of all, American stocks fell very sharply, leading to a drop in production and exports, thus increasing the value of this raw material. But that’s not all. Indeed, the declarations of the Minister of Energy of Saudi Arabia, which plans to reduce exports also had the effect of panicking the course.

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Prices that will increase

If prices at the pump are stagnating for the time being after a few weeks of decline, they could soon rise again. Fortunately, demand remains relatively weak at the moment, which limits the upside. However, as diesel begins to rise sharply, gasoline should soon follow. Fortunately, the discount of 30 cents made official by the government should somewhat limit the damage to the wallets of motorists, who are paying the high price of this crisis.

Source: AutoplusAutoplus by

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