Chinese people now get behind the wheel of electric cars more often than anything else, and this causes the price of petrol in Denmark to collapse.
The price of petrol in Denmark is hammering down. And this is mainly due to the Chinese way of driving. More and more people in China are choosing the electric car.
Something which, according to the International Energy Agency (IEA), can be directly read from the global oil price.
Over a number of years, China has only increased its consumption of oil, but in the last four months it has gone significantly the other way.
In addition to the spread of electric cars, it is also a general economic slowdown that, together with more high-speed trains rather than air transport, is causing the Chinese appetite for crude oil to drop significantly.
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Although China is in the process of restructuring, total oil consumption has increased over the course of 2023, the IEA announces. However, the Chinese's lower consumption takes the peak of growth.
However, the drop in petrol prices in Denmark is nothing compared to the conditions in Sweden. Here, there is simply too much petrol and diesel around the country's petrol stations.
In order to empty the stocks, the Swedish energy companies cut prices significantly. This must be compared to the fact that the government in Sweden has reduced the taxes on fuel to the EU's absolute minimum level both this year and next year.
Thus, a liter of petrol in Sweden can be filled for just over 10 Danish kroner today. And if you ask the Swedish petrol stations, there is no prospect of the prices becoming significantly higher.
The Danes, on the other hand, must prepare for that. From the new year , the government will once again raise the taxes on fuel, which actually increased as recently as 1 January 2024.
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