Diesel retail prices in the five largest European economies increased in December in line with firmer oil prices, while French drivers paid extra for their fuel due to ongoing strikes, data from OPIS NAVX shows.
Diesel prices increased by an average of 5 Euro cents per liter (8.8 U.S. cents/ liter) in Germany, Spain, France and Italy, while prices in the U.K. stayed flat. Meanwhile, Brent prices rose by an average of $2.40/bbl to $58.69/bbl in December compared to November.
Gasoline prices in all countries, bar France, remained flat in December.
French fuel prices were lifted by almost four-week long union strikes, with workers protesting against changes in the pension system. The protesters blocked three large domestic refineries, which in turn led to increased fuel imports, price rises and shortages in fuelling stations.
Gasoline prices in France increased by 1.2 Euro Cents/liter (U.S. 2.3 cents/liter) and diesel prices rose by 1.8 Euro cents/liter (U.S. 2.8 cents/liter).
The Italians paid the most for their gasoline, cashing out 1.6 Euro/liter (1.78 U.S. dollar/litre) for their diesel. Italy also has the highest diesel prices in the Eurozone, with drivers cashing out 1.49 Euro/liter (1.65 U.S. dollars/liter) for the fuel.
However, at 1.7 U.S. dollars/liter, the British had the highest diesel prices out of the five countries when converted into dollars. This is partially due to the pound sterling firming against the dollar following the elections mid-December.
Spanish motorists paid the least for their fuel, paying 1.27 Euro/liter (1.37 U.S. dollars/liter) for their diesel and 1.31 Euro/liter (1.46 U.S. dollars/liter) for gasoline in December.
--Selene Law, slaw@opisnet.com
Copyright, Oil Price Information Service
