Economy Is Exceptional.” So-called general manager, Johan Mattart, the Belgian Federation of the Brandstoffenhandelaars (Brafco) for the low price of crude oil today. Cause is the feline corona virus, and that the economy is slowing down. “The prices at the pump have been spectacularly low, and the supply of fuel oil may be and the request can hardly keep track,” says Mattart, to APPROVE. Your cookie settings to make sure that the content is not displayed.

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The price of crude oil has been soaking in a freefall and yesterday dropped further by 5 per cent to about $ 32 per barrel. By way of comparison: at the beginning of this year, that price is twice as high. West Texas Intermediate is a type of crude oil that is commonly used in U.s. refineries, and is regarded as the benchmark for oil prices – ended up, even an 11 per cent decrease.

See also the electricity price to zero and even negative… but you may find yourself in, to a limited extent, Stabilize

Today, it decided the most important oil-producing countries in the world (OPEC), with the exception of Mexico – the oil production has slowed down, and it will be in order for the prices to stabilize. In may and June, there would be 10 million barrels per day are produced from July to december, there are 8 million, and as of January, 2021 and april 2022 6 million. To give you an idea of the world-wide demand for crude oil sales in 2019, on average, a 100-million-barrels-per-day. It is, however, still have to wait until Mexico for the green light before the action can commence.

“I’m afraid, anyway, that it was too little, too late, it is ” consider Mattart. “There is a very low level of economic activity in the coronamaatregelen, which means that the demand for petroleum products is still not back to normal. The reduction in output is possible, therefore, did not go far enough to get to the drop in demand is to be expected. It is likely that the prices will continue to fall.”

as a result the consumers are to benefit from it. “Today, the price of heating oil, for delivery as of 2,000 liters of under 40 cents per gallon lower,” said Mattart. Vat included in the price. I think we have to be almost to the bottom of the vessel has been made.”

According to the Brafco, there’s been a few weeks and all of a rush on heating oil. “Both individuals as well as businesses, have developed their supplier be contacted to place an order. Everyone wants to have his tank filled, even though it is not empty. The vendors have been working to get the huge contracts to work on. The waiting period of up to 3 or 4 weeks and sometimes even longer. This is unusual for this time of the year. We are, after all, at the end of the winter season.”

price reductions

The decline in prices was also remarkable. In concrete terms, paid to you at the beginning of this year to have 2,000 gallons of heating oil a little bit more than 70 euro cents per litre (including vat). “Now, that’s 30 cents less, and a difference of as much as 600 euros. It’s really hamsterwoede. Not out of fear of shortages, but because of the concern that the prices will go up. The exact figures are not quite there yet, but the products are reporting that their phones are red hot out there.”

And on to the pump? “The price is the same,” said Mattart. “We have to pay a maximum of 1,168 euros per liter, E10 (£95). At the beginning of this year, it was 1,514 eur. That, too, is spectacular. For diesel, we’re at 1.28 euro per litre, and that’s more than 30 cents lower than at the beginning of this year.”