Petrol prices rise to record levels

5th May 2004, Comments 0 comments

5 May 2004 , AMSTERDAM — The price of petrol rose in the Netherlands to a record level on Tuesday as market leader Shell upped its price by 1.4 euro cents. The price of euro unleaded now costs EUR 1.283 per litre at the pump.

5 May 2004

AMSTERDAM — The price of petrol rose in the Netherlands to a record level on Tuesday as market leader Shell upped its price by 1.4 euro cents. The price of euro unleaded now costs EUR 1.283 per litre at the pump.

The recommended price of super plus is now EUR 1.337and the price of diesel rose 0.4 euro cents and now costs motorists EUR 0.859 per litre, newspaper De Telegraaf reported.

The petrol prices signify a new record, topping the previous highest of EUR 1.275 for euro unleaded, recorded on 12 May 2001. At that time, super plus cost a record EUR 1.330.

But the price of diesel has not yet reached its highest level. The record price of diesel was recorded at the end of 2000 when it was costing motorists EUR 0.96 per litre.

Anglo-Dutch oil and gas company Shell uses international production prices to determine the domestic price of fuel in the Netherlands.

But the market leader said the present high price of petrol was not only due to the cost of crude oil, but was also based on international demand.

As example, it said looming holidays can affect the price of fuel. Crude oil prices also rose to their highest level in 13 years last week.

Supply also plays a role in determining the price of fuel. An accident at a refinery in Algeria at the start of this year caused nervous market reactions. Unusually cold temperatures in the US also led to petrol and diesel price rises.

[Copyright Expatica News 2004]

Subject: Dutch news

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