Tuesday, December 6, 2022

With Russian oil embargo, the price of petrol threatens to explode

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Petrol has never been as expensive in Switzerland as it is now. The TCS gives current prices of 2.17 francs for unleaded 95, 2.26 francs for unleaded 98 and 2.30 francs for diesel. So far, 2012 was the most expensive tank year ever in Switzerland. A liter of unleaded 95 cost an average of 1.81 a decade ago. A bargain compared to today. And the price of fuel could continue to rise sharply.

Economists at Bank of America, the second largest US bank, warn of this in a research paper published on Friday. Price drivers: the Ukraine conflict. Oil prices skyrocketed after Russia invaded nearly 100 days ago. For the global reference variety Brent, they are currently just under 120 dollars per barrel.

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