The descent continues unabated Oil prices. But unlike what one might expect, the trend on the oil market hardly affects the pump price of fuels. After OPEC meeting, in which it was decided not to cut the production of crude oil, the black gold which has fallen to $71 yesterday and is holding just above this level as trading continues today.
Comparing this summer's data, the prices of black gold plummeted from 115 dollars a barrel in the third week of June to 71 dollars yesterday. And this morning the Brent price doesn't seem to be improving at all. In percentage terms, the price of crude oil has plunged by over 37% in a few months.
But who benefits from the fall in the price of crude oil? Certainly not Saudi Arabia's rivals within OPEC. Serious troubles for the too Russia and also for those countries, especially the United States, which are focusing heavily on unconventional extraction methods such as lo 'shale'.
Therefore, the dominant position of theSaudi Arabia which demonstrates its absolute centrality within the organization. The depreciation of oil not only helps the dominance of the Saudi market but also favors the dollar: the US currency has strengthened against the euro and especially against the ruble in recent days.
The advantages of the decrease in oil prices on international markets are therefore attenuated by the weakening of the euro against the dollar given that crude oil is paid for in US currency. And it is certainly true that the weight of taxes significantly affects the price of fuel, in Italy as in the rest of Europe. The excise duties paid on petrol and diesel, in our country, account for about 60%: a very high share. The Italian distribution system also affects where a myriad of small plants do not allow for an increase in volumes sold per distributor, unlike in France and Germany. The scarce use of self-service systems also contributes to making the cost of distribution in Italy higher than elsewhere.
All of this must certainly be considered, but the feeling remains that the price of fuel in Italy is more difficult to fall than to rise. In June in Italy the petrol it cost 1,743 euros per liter and despite the swirl of reductions that have followed one another today, the average price of Green remains at 1,716 (a drop of less than 2%). Even against the trend the price of diesel which increased from 1,632 euros per liter in June to 1,649 euros.
However, strong differences remain on the network: on price of petrol in fact, it ranges from a minimum of 1,688 decided today by Eni to 1,713 in Q8. As regards the price of diesel, it went from 1,612 euro/litre for Eni to 1,641 for Tamoil.
However, the Petroleum Union specifies: "From mid-July to today, the Platts price of petrol has shown a reduction of about 11,1 cents and the industrial price (i.e. net of taxes), as of yesterday, had already dropped by about 10,6 .2014 cents. The same goes for diesel. Overall, pump prices in the July-November 13 period fell by an average of XNUMX cents. Currently, our industrial price is absolutely in line with the European one”.
