How speculation in Rotterdam affects refueling in Austria

According to the expert Lydia Ninz, a monitoring system at fairer prices would be easy to implement.

Fuel prices fell a bit on Thursday. Diesel and premium petrol cost less than two euros on average nationwide at 1.976 and 1.889 euros.

However, this is still higher than the price of crude oil would explain. On Thursday, this was at the level of the last week of February – and thus far removed from the rash two weeks ago. The Federal Competition Authority confirmed that there were several complaints on the subject. These would now be examined, but there are no concrete measures yet.

Not only the crude oil price is decisive for the end consumer prices, but also the supply and demand of the finished products. In addition, the petroleum tax is a fixed amount per liter and therefore stabilizes the costs at the gas station proportionally. Other costs, such as for staff and sales, do not rise or fall with the daily raw material price.

The prices on the fuel market in Rotterdam determine how much mineral oil companies charge for petrol, heating oil and diesel. Not because the fuel sold in Austria is sourced from there, but because the quotations in Europe act as guide prices.

However, this data is not publicly accessible and must be purchased from private service providers such as Platts or Argus. But if you have access to it, you could compare the rise and fall in prices with those at the pumps. “Then we wouldn’t have to argue anymore,” says fuel price expert Lydia Ninz to KURIER. Unfortunately, a corresponding proposal was rejected years ago by the Ministry of Economic Affairs because the rumored costs of 100,000 euros per year were too high.

Ideally, according to Ninz, “an economically important product like fuel” would not be dependent at all on a daily spot market driven by speculative effects.

By Editor

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