Fuel: petrol at 1.87 euros per litre – the lowest price since 2 May
Progress towards a final agreement between the US and Iran, and consequently the reopening of the Strait of Hormuz, is driving down the price of oil (Brent has even fallen below $80 a barrel)
Key points
Progress towards a final agreement between the US and Iran – and consequently the reopening of the Strait of Hormuz – is driving down the price of oil (Brent has even fallen below $80 a barrel). And so too is the price of fuel at petrol stations. It is true that this is happening gradually, cent by cent, but in the meantime prices have reached levels not seen for over a month.
Petrol prices to fall from early May
Let’s start with petrol. The average price of self-service petrol across the national road network stands at 1.872 €/l. On the motorway network, however, the average self-service price is €1.964 per litre. Prices exceeding €1.9 per litre are being recorded in Basilicata, Molise and Trentino-Alto Adige. These figures have not been seen since early May, when, amongst other things, the government had just reduced the excise duty rebate on petrol by 75 per cent.
Diesel prices are also starting to fall
The situation is slightly different for diesel, as the discount was adjusted and brought into line with that for petrol (-6.1 centesimi per litre) less than two weeks ago. The average ‘self-service’ price for diesel across the national road network stands at €1.974 per litre. On the motorway network, however, the average self-service price is €2.060 per litre.
This figure has also been falling for days, but has not yet reached the levels seen at the end of May (the low was 1.974 e/l), when the discount stood at 24.4 centesimi per litre. Looking at Brent prices, and above all the real possibility of a truce in the Middle East, the path back to below 1.9 euros per litre could be on the horizon. A price that petrol stations haven’t seen for diesel since March.
