Categories: News

The price of a barrel breaks a new record: what will change for you?

For several weeks, the price of a barrel of oil has been climbing, reaching a historic level since 2014. And this is having an impact at the pump.

If you regularly go to the gas station to fill up your tank, you have undoubtedly noticed that the price of fuel has risen sharply in recent weeks. Worse still, the latter took no less than three cents in just one week, with a liter of diesel fuel displayed at €1.7415 and unleaded at €1.8133. A record increase, which is beginning to weigh very seriously on the budget of motorists, many of them being forced to take their car every day. But if many causes explain the rise in the price of the litre, and in particular taxes, our government is not the only one responsible.

Price of the barrel: the situation in Ukraine in question

If the price of a barrel is rising so much at the moment, it is largely due to the war in Ukraine, and the sanctions imposed on Russia, the world’s second largest oil exporter. Clearly, imports are slowing down, inevitably pushing up the barrel price, which then reaches the symbolic bar of $110. A record since 2014, the year Crimea was annexed by Russia. A situation which unfortunately should not improve immediately, while the conflicts continue in Eastern Europe.

And if the price of oil increases, this is obviously reflected at the pump, thus explaining the very marked increase in the liter over the past few days. According to experts, the surge is expected to continue for some time, while fuel is expected to remain very high in the coming years.

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