Petrol prices in the Netherlands have dropped below €2.50 per litre for the first time since early July, providing some relief to motorists after weeks of elevated fuel costs. UnitedConsumers reports that the recommended price for regular Euro95 petrol fell to €2.485 per litre on Thursday, a decrease of more than two cents from the previous day. This marks a significant reduction from the record high of €2.732 per litre recorded on October 10.
Diesel prices have also seen a reduction, dropping to €2.647 per litre, which is approximately 18 cents below the peak of €2.824 reached in mid-September. Premium Euro98 petrol experienced an even larger price cut, falling 25 cents in less than a month to €2.698 per litre.
Despite these declines, Dutch fuel prices remain notably higher than those in neighboring countries. The discrepancy is largely attributed to the high fuel taxes in the Netherlands, which are among the steepest in Europe. As a result, many Dutch drivers opt to purchase fuel in Belgium, where prices are generally lower.
The easing of fuel prices is largely influenced by a decline in international oil prices, driven by expectations of a diplomatic resolution to the ongoing Middle East conflict. This conflict, which began in late February, had previously contributed to the surge in energy costs.
Prior to the conflict, the recommended prices for Euro95 petrol and diesel stood at €2.285 and €2.084 per litre, respectively. Although recent reductions have brought some respite, current prices are still above pre-conflict levels.