Petrol prices shooting back up

The Danes have been able to fill up their cars at a cheaper rate in recent weeks thanks to dwindling oil prices, but petrol prices are now back on the rise again.

Thanks to stabilising oil prices this week, petrol prices in Denmark have increased by 43 øre per litre for petrol and 34 øre per litre for diesel over the past three days.

”We have seen the price of raw oil rise from 47-48 to 56-57 dollars and now that's trickling though to the petrol prices,” Peter Rasmussen, an oil analyst with Statoil, told Finans.dk

READ MORE: Petrol cheap in Denmark compared to income

Not returning yet
But it's not all bad news for Danish car owners, according to Rasmussen.

The price of petrol won't be returning to its earlier heights just yet and will probably remain around 10-10.50 kroner per litre for the foreseeable future.

”There were a lot of good reasons for the price of oil dropping from 110 dollars a barrel to 60-65 dollars,” Rasmussen said. ”But the further decrease was due to a bit of an overreaction and now we are seeing a small backlash to it falling that far down.”

Rasmussen maintains that it is unlikely that the price of oil will surpass 100 dollars per barrel again within the next 4-5 years, and therefore petrol prices will probably not return to the level of last summer when the price per litre was about 2 kroner higher than it is currently.





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