The uncertainty of a market as volatile as that of fuels will be felt in the coming months, according to the experts consulted by eitb.eus.
Euskaraz irakurri: Europak betoa ezarri dio errusiar dieselari: Igoko al da erregaiaren prezioa gasolindegietan?
This Sunday the total ban to import to Europe Russian petroleum products. It is one more of the extensive list of sanctions against the Kremlin that, according to the experts consulted by eitb.eus, will have short-term side effects when it comes to refueling.
Massimo Cermelli Deusto Business School professor assures that in the coming months there will be a supply constraint which will be accompanied by the cut off of the diesel supply by Russia.
In addition, Cermelli adds more tension to the equation: the sudden reactivation of China is bad news for Europe because from now on it will have more competition to provide itself with energy. According to the International Energy Agency, China can account for 80% of the additional volume of liquefied gas that will enter the world market this year. All this, affirms the expert, will make the price of diesel increases.
This increase will affect all sectors, as Inés Cardenal, director of Communication and Legal Affairs of the Spanish Association of Petroleum Product Operators, tells us, because Europe depends to a large extent on Russia for its diesel supply. Not surprisingly, despite the sanctions, in 2022 more than 44% of the imports of this fuel came from Russia.
To solve this serious supply problem and overcome the heavy dependence on Russian diesel, Europe now has to look at other markets such as the United States, the Middle East or India.
fuels go up
The uncertainty of a market as volatile as that of fuels has already begun to be felt in the fuel prices. Gasoline and diesel rose by 20% and 16.7%, respectively, in January, and they have become more expensive by 1.5% and 1% in the last week.
Filling the tank with 95 octane gasoline cost 1.66 euros on average in the last week, while diesel cost 1.7 euros. However, both fuels are still far from the all-time highs they recorded in June 2022 (1.94 and 1.9 euros per liter, respectively).
Source: Eitb
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