The rise in the price of oil takes an uncertain breather, while gasoline remains just as expensive

After another week of increases and uncertainty the price of oil gives the markets a break with a slight decline, which leaves the barrel of Brent in the environment of the $108.

However, this relaxation in crude oil futures is not reflected in fuel prices per liter, which in Spain average 1.81 euros for unleaded gasoline 95 and 1.84 euros for type A diesel.

supply concern

Plataforma Petrolifera

And it is that, for the markets, this relief does not seem to be but the beginning of a bounce which will again raise the price of crude oil. For example, the North American indicator Texas West Intermediate has already risen in the last four days from 106.8 dollars per barrel to 108.2 dollars.

According to the Reuters agency, the main cause of this volatility is found in a growing concern about supply balancethreatened by the proximity of the sanctions that the European Union is preparing against Russian oil.

Barril Brent 20 04 2022
Graphic: Marketwatch

The latter has been reflected in the production figures, which are still far from the objectives that OPEC itself established at the beginning of the year. During the past month of March, its members and allies have produced 1.45 million barrels per day less of those planned.

In addition to the sanctions for the Ukrainian conflict, from this organization they also point out the influence of the recent political crisis in Libyawhose protests have forced the government to temporarily close crude export terminals at its main commercial ports.

Fuels pick up

Gasoline Prices April 2022
Graph: Dieselogasoline

At the foot of the pump, the feeling of rebound is confirmed. After a Holy Week with falling prices, fuel prices go back up and they return to similar price levels to those registered at the beginning of the month.

This last reference is significant since on those dates the current discount of 20 cents per literdecreed by the Government as a measure to try to curb the volatility in fuel prices.

A) Yes, April 13 was the day with the lowest prices so far this month, with 1.79 euros for a liter of unleaded gasoline 95 and 1.78 euros for a liter of diesel A. In comparison, a driver who has to refuel today will find on average prices up to five cents more expensive.


Source: Motorpasión by www.motorpasion.com.

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