Oil prices: rise, fall, what does the future hold?

Oil prices: rise, fall, what does the future hold?

Over the past six weeks, drivers’ bills at the pump have only gone down. The price of oil has really fallen rapidly. They are visible today between 1.80 and 1.90 euros per liter, for diesel as well as petrol. Far from the roughly €2.20 seen a few months ago.

A trend that can be described in various ways. In Europe, fear of economic recession affect the price. Likewise, The euro has recovered from the bull’s hair, against the dollar. When one euro was equal to one dollar a few days ago, it’s today equal to 1.02 US Dollar. In Asia, The Covid-19 pandemic is also weighing on demand.

Are oil prices here to stay?

A lull that can last, for a price. “Historically, the start of the school year in September is not when prices at the pump go up technical”, analyzes Francis Pousse, president of the service center and new energy branch of Mobilians, for Parisian.

Especially since September 1, the government will request, to prevent major changes, 30 cents off per litre on the price of oil. Efforts in which TotalEnergies will join, and 20 cents off. It’s enough to hope for a reduction…Read more about Auto Moto: the car and motorcycle magazine