Diesel: Because it now costs less than petrol

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Again, diesel has become cheaper than gasoline. It hasn’t happened since August. The downturn that began on February 11th has plateaued and diesel is now steadily traveling below the price of petrol. second Lab24 processing According to the latest data from the observatory on fuel prices updated on February 20, diesel costs an average of 1.831 euros per liter, with the highest average price at the provincial level in Bolzano (1.898) and the lowest in Ancona (1.782). Instead, the average price of petrol was €1,858 per litre. The province where the average price is the highest is Nuoro, while Ancona has the lowest.

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Excise weight

“In the winter period, international diesel prices are usually higher than petrol prices,” explains Claudio Spinacci, President of Unem: “In normal times, consumers would not have looked at this situation because the price differences between the two producers could reach 3-4 euro cents per liter, in favor of diesel, and was offset by more than 11 cents less excise tax on that product.In August, reduced availability of diesel fuel due to a ban on Russian imports, on which Europe depends for about 30% of its needs, led to a rush of buying to secure diesel supplies. for the winter, resulting in this delta exceeding 30 euro cents per capita. Liter canceling all tax concessions ».

Inventories rising

Then these tensions eased with the gradual rebalancing of international markets, and since November a clear downward trend has emerged, which today brought both products back to levels close to pre-war levels, with the price gap returning to historical levels. Moreover, the first shipments from China are also arriving in Europe, increasing export quotas by the end of 2022. The entry into force of the ban on Russian products on February 5 did not produce any particular tremors. Then we should not forget that for gas, diesel stocks are high, the temperatures are all moderate and we are approaching a period when the demand for diesel tends to decline in contrast to petroleum, ”concludes the head of Unem.

lower demand

Even David Tapparelli, President of Nomisma Energia, confirms the high level of inventories under the Russian embargo, and among the reasons for the low price of diesel, he adds: «Demand for transportation and heating has slowed down, especially in Germany. under. Russia sells crude oil and refined products cheaply. And we buy diesel made from Russian oil from India and the Middle East. Finally, China is not importing much, despite the recovery.