The price of Brent crude is approaching the psychological barrier of $100 per barrel, trading at its highest levels in the last six weeks.
Today it surpassed $95, with the year-over-year change standing at nearly 41%. U.S. crude also rose above $90, while the price of European natural gas soared to a 43-month high following the latest escalation in the U.S.-Iran conflict. Its price on the Dutch exchange stood at around 74 euros per megawatt-hour.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
“As reserves dwindle and run out, this will further drive up the price of natural gas in the future, which means consumers in Europe will have to pay more. And that simply leads to even higher inflation.”
Stephen Stapczynski – Bloomberg Reporter
Price Hikes at the Pump
International turmoil in the oil market is placing an even greater burden on consumers in Cyprus, as new price hikes are expected with the arrival of fresh shipments.
Today, the average price of unleaded 95 reached €1.607 and that of diesel €1.863.
“Prices have gone up, especially for diesel. The price of diesel has reached—it’s close to—1.90. If we see further increases with the new prices and new shipments, we may even approach 2 euros.”
Christodoulos Christodoulou – Press Spokesperson for the Association of Gas Station Owners
As for heating oil, the average price reached €1.474.
Watch the report by Rafaella Stavrinou:
