Price hikes at the pumps again

After record lows, petrol and diesel prices are on the rise again

There has been a lot of fluctuation in fuel prices of late. Petrol and diesel prices bottomed out on January 15 and have since then been on the rise. Today the prices of petrol and diesel will hop a further 10 øre and 15 øre respectively.

Since mid-January, this amounts to an increase of 88 øre in the case of petrol and 91 øre for diesel.

Volatile market
Per Hansen, an investment economist at the investment service Nordnet, told TV2 News that the market activity was something out of the ordinary. “It is unusual to see such a price hike on petrol and diesel in such a short period of time, just as it was also unusual to see the speed at which prices fell during the autumn,” he said.

“The price hikes are a counter reaction to the extreme price drops we saw in oil prices in the autumn and in December.”

However, Hansen told TV2 that Danes shouldn’t be concerned that the prices will rise to previous highs anytime soon.

“The bad news for motorists is that the times of extraordinarily low petrol prices are over,” he said.

“The good news is that in the coming 12 months prices won’t come anywhere near the prices we saw during the summer.”