Ukraine crisis: ADAC expert with gloomy prognosis for fuel prices
Created: 2022-02-15Updated: 2022-02-15, 05:40
By: Thomas Schmidtutz
Aral petrol station: In view of the Ukraine crisis, fuel prices could continue to rise in the coming days, the ADAC warns.
Only on Sunday did the price for Super E10 reach another record high.
© Fabian Sommer/dpa
Fuel prices have recently risen to record levels.
However, in view of the Ukraine crisis, there is currently no end in sight, warns the ADAC.
Munich - In view of the development in the Ukraine crisis, the ADAC expects new records for Super and Diesel.
“If the situation in Ukraine escalates, the price of oil will continue to rise.
Then the prices at the petrol stations should also reach further record highs," said ADAC fuel market expert Jürgen Albrecht on Monday to
Merkur.de*
.
The prices at the petrol pumps have already risen sharply in recent months.
A liter of Super E10 variety in January cost an average of EUR 1.67 nationwide, which is a good 23 percent more than a year ago.
The trend for diesel is also continuing upwards.
In January, motorists had to pay an average of 1.596 euros per liter, almost 30 percent more than in the same period last year.
ADAC: Fuel prices again at record high
Only last week had the average daily fuel price reached an all-time high of EUR 1.725 for Super E10 and EUR 1.654 for a liter of diesel.
But in the meantime these values have cracked again.
"On Sunday, a liter of Super cost 1.739 euros, a liter of diesel 1.655 and thus more than ever before," said ADAC spokesman Andreas Hölzel
Merkur.de
.
Crude oil prices have risen significantly in recent months due to the unexpectedly strong recovery in the global economy.
The price for a barrel of Brent crude oil (159 litres) from the North Sea has almost doubled within a year.
On Monday, a barrel of crude oil was trading at around $96, the highest level since autumn 2014.
But this could only be a stopover, experts fear.
Should there be "a Russian invasion of Ukraine, significant price increases for crude oil and natural gas are likely," warns Carsten Fritsch, commodity analyst at Commerzbank.
Then Brent "is likely to rise above the $100 a barrel mark."
Russia is the second largest oil exporter in the world after Saudi Arabia.
Rising fuel prices: ADAC warns against scaremongering
Despite the development, the ADAC warns against scaremongering.
Albrecht explains that rising oil prices cannot simply be transferred 1:1 to developments at the pumps.
In addition to currency developments, other factors such as the CO2 tax or tax rates also played an important role.
"Fuel prices of two euros per liter, which are sometimes already being painted on the wall, are not to be expected in the medium term either," says the ADAC expert.
Fuel prices of two euros per liter are not to be expected in the medium term either.”
Jürgen Albrecht, ADAC fuel expert
Especially since OPEC+ - i.e. the cartel of OPEC states from the Arab oil-producing countries and Africa as well as other members such as Venezuela or Russia - could also increase oil production in the short term.
In January, the increase in production once again fell short of the actual OPEC+ target.
However, in the event of an escalation in Ukraine, the USA, for example, is likely to increase the pressure on Saudi Arabia in particular to produce more oil in the short term in order to cushion a possible oil price shock, analysts say.
*Merkur.de is part of IPPEN.MEDIA
