Due to the current energy crisis that has developed in Europe due to war conflicts, Repsol has made a worrying announcement to the diesel consumers.
Increasingly, it can be seen how electricity and fuel prices skyrocket to levels not seen before. That of fuels is one of those that most worries citizens, especially those who have diesel vehicles and who see how their cost continues with its upward trend.
A recent report by the European Union Petroleum Bulletin announced that currently a liter of diesel is around 12% more expensive than one of gasoline. This difference between the two fuels contrasts sharply with the price of a year ago, when gasoline had a higher cost than diesel.
However, it seems that owners of cars that use this type of fuel will not see this difference diminished, At least in the short term. The price of diesel is not only expected to remain stable in the coming months, but will continue to increase in the future. This is also confirmed by one of the most important petrochemical companies, Repsolwhich has launched a warning to those who have a vehicle of this type.
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As explained by Josu Jon Imaz, CEO of Repsol, the upward trend in diesel could continue over the coming months due to the war in Ukraine: “If, unfortunately, in social, economic and political terms, the current geopolitical tensions in Europe continue, it seems to me that these very open diesel cracks are going to stay.”
Also, with the imminent arrival of winter, time when this fuel tends to become more expensive, and restrictions on imports of Russian diesel, this situation could even worsen. The high prices of natural gas in Europe are not favoring this lack of control in prices either, as many companies are beginning to use diesel as a substitute for gas for thermal applications or to produce energy.
“It seems to me that there is room to see higher diesel prices in the coming months due to the lack of a political agreement on the invasion of Ukraine and the Russian conflict, agreements that are not expected in the short term,” the Repsol executive reiterated, predicting an increase in its price in the coming weeks.
The lack of supply of Russian diesel and the energy crisis caused by the war in Ukraine has caused an increase in the cost of fuel. This increase has led to gasoline and diesel reaching historic prices, despite incessant attempts to lower them.
The last price for October for fuels it marked 1.76 euros per liter in the case of gasoline 95, While for diesel came up to 1.97 euros. Thus, the gap between the cost of both fuels has increased, being diesel is now up to 20 cents per liter more expensive than gasoline.
