Over the past month, European Brent oil has only gone one way. Downward. And that's good news for European drivers.
European Brent oil has not cost more than $80 per barrel for a very long time. And that is good news for European drivers.
Because it can be exchanged for cheaper gasoline and diesel. On Friday morning, a barrel of crude oil, according to the Stock Exchange's 'Brent Spot', is down to 75 dollars. That is roughly the same as a similar barrel cost on January 1st of this year.
US WTI oil has also fallen, according to the Reuters news agency.
On Wednesday this week, the price was down to $72.6 per ton. This is the lowest level in January and therefore 2025 so far.
Further price declines may be on the way, as figures from the Energy Information Administration show that storage has been filled with an additional 3.46 million tons of oil in just one week.
The falling oil price should be directly reflected among motorists. But in Denmark, higher taxes, which became a reality on January 1, 2025, are eating up a good part of the 'discount'.
Conversely, energy company Circle K, among others, states that the price of gasoline will remain unchanged as of February 1, while diesel will increase by 10 cents per liter.
Right now, a liter of gasoline costs a good 14.29 kroner. While diesel is running up to 13.59 kroner. Just on the other side of the Øresund, however, the fuel is cheaper. Much cheaper.
An election cap means that the Swedish government has lowered the tax level to the EU's absolute minimum. This has caused prices to plummet, so that Swedes currently have the second cheapest petrol in Europe. Read more about it here .
