– When I saw the price now, I turned around at the roundabout to fill the tank completely, says Miriam Hansson in Stavanger. Hansson has just filled 27 liters of diesel for NOK 440 at Uno-X in Madlaveien in Stavanger on Tuesday morning. At the same time last year, the price of a liter of diesel was up to NOK 28 per liter in the same place. Then Hansson’s tank would have cost in excess of NOK 750. Communications manager at Circle K Norway, Knut Hilmar Hanssen. Photo: Knut Are Tornås / news This is a decrease of 40 per cent. – It is simply tough price wars that result in low petrol and diesel prices, says Knut Hilmar Hansen, head of communications at Circle K, to news. – Are you losing money? – I don’t want to comment on that. But it is significantly lower than it really should have been, he says. Miriam Hansson filled 27 liters for NOK 440 on Tuesday morning. Photo: Tom Edvindsen / news Would pay NOK 50 a liter Øystein Kristiansen fills petrol at Uno-X on Madlaveien. It is also cheaper than last year, but now it is more expensive than diesel. He doesn’t care about the price of fuel. – Some people have problems, but the vast majority are simply too well off and I think we complain too much about everything. I drive 15,000 kilometers a year and would happily pay NOK 50 a liter if that were the cost, he says. Øystein Kristiansen fills up with petrol at Uno-X in Madlaveien at NOK 18.77 per litre. He will never switch to an electric car, no matter what the petrol costs. Photo: Tom Edvindsen / news The diesel and petrol price consists of three components. 60 percent of the price is taxes and fees. Approximately 30 per cent consists of the purchase price and 10 per cent is about local competition. – The Stavanger area is in a fortunate situation with high local competition and falling purchase prices, says Lillian Aasheim, communications manager at St1, which operates the Shell stations in Norway. – But the price of oil is still relatively high, and the krone exchange rate quite deplorable. Why are prices falling? – The price of petrol and diesel is not 100 per cent controlled by the price of oil. It may be that the prices of the bio-components that are in the fuel are reasonable. There may also be less demand, she says. – How does it look in the future? – I am not allowed to say that. An analyst must answer that, says Aasheim. Communications manager at St1, which operates the Shell stations in Norway, Lillian Aasheim. Photo: Gunnar Sandvik The diesel market has improved According to figures from Statistics Norway, the price of diesel nationally increased by almost 50 per cent from May 2021 to May 2022. In May this year, it had only decreased by 2.4 per cent compared to May last year. Chief analyst at Rystad Energy, Per Magnus Nysveen, explains that in the early summer of last year the world market had a fear that there would be too little fuel over the summer. Therefore, the international prices of petrol and diesel shot up last year, and there were higher prices for diesel than for petrol before the summer. Per Magnus Nysveen, head of analysis at Rystad Energy. Photo: Jon Skille Amundsen Now the situation is different. – The diesel market has improved a lot, so diesel is now again lower than petrol, says Nysveen to news. – What is the reason for that? – The macro economy drives diesel prices quite a lot. There is less transport of goods, and thus less truck transport around the world. As a result, the demand for diesel goes down, he says. Diesel prices are NOK 16.29 in Stavanger on Tuesday morning. Photo: Tom Edvindsen / news It means nothing for fuel prices in Norway that the krone exchange rate is currently weak, according to Nysveen. – Oil is always traded in dollars, and one of the reasons why the krone price is low is that the dollar is high. It is negative with a high dollar, because then all countries spend more of their local currency to buy oil, he says. Today, the petrol price was around 18.50 in Stavanger. Nysveen expects petrol prices to rise slightly after the summer, but diesel prices will continue to be low, he believes. At Shell Madlaveien they are also low. Photo: Ole Andreas Bø / news But we will be far below last year’s peaks. – I expect petrol prices to be slightly above the 20s over the summer. Diesel prices will be in the lower 20s, he says. – Impossible to predict prices Chief analyst at Nordea, Thina Saltvedt, points to the fact that oil prices are now down almost 38 per cent in the past year as an important factor in fuel prices now falling. She explains, however, that it is almost impossible to predict what the prices of oil will look like in the future. Chief analyst at Nordea, Thina Saltvedt. Photo: Josef Benoni Ness Tveit / news – Last year, oil prices were affected by the war in Ukraine. What makes it difficult to predict oil prices in the future now is that it is so extremely politically controlled, she says. She highlights sanctions against Russia and the Opec cooperation. – Saudi Arabia needs an oil price of 80 dollars a barrel to make the budgets go up. Now when they are below 80 dollars a barrel they are cutting exports to make the market push up prices. The Americans don’t like that, says Saltvedt.
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Now you can fill up with fuel for NOK 16 a liter – news Rogaland – Local news, TV and radio
