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Prices for gasoline and diesel continue to fall in late November. On Tuesday, the target price for Circle K was NKK 16.27 per liter, the lowest since mid-May.
"Our buying prices for gasoline and diesel have dropped significantly last month." Especially on gasoline, there is a drop of 65 ounces at the recommended price. has declined significantly for a number of reasons, including falling oil prices, but also supply and demand, and it is not uncommon for gasoline costs to decline when driving in America. 'Completes,' said Circle K's communications director, Knut Hansen, in an email to E24.
In comparison, the guide price was 18 ø higher than Friday and since 9 October, the price of gasoline has dropped 87 øre, or more than 5%.
At the same time last year, the price of gasoline was 15.50 crowns and that of diesel 14.58 crowns.
Not clear what is happening in the future
In addition, diesel prices have fallen significantly in recent times. The indicative price is now NOK 16.06, a fall of 14 øre on Friday, indicates the outline of Circle K.
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The undervalued explanation of the fall in the price of oil: – Extremely important
In 2018, it was mostly about rising fuel prices in Norway. On many occasions, Circle K has announced record prices. iTromsø was able to announce in August that the price of the unleaded 18 liter liter had become a normal price.
Hansen does not dare to wonder if the recent fall in prices will continue.
"It's hard to say what prices will change in the future, it depends on international demand or refined products such as gasoline and diesel." We are now heading into the winter season, where the demand for distillery products such as diesel and fuel oil increases.
"Supply and demand are one of the factors that affect our purchase prices, we closely monitor the international fuel market and adapt to daily fluctuations in purchase prices or cost prices. if you wish, "he said.
New shipping requirements can increase the price of diesel
In just over a year, there are also good reasons to expect new prices for diesel bikes, Per Magnus Nysveen believes in Rystad Energy.
"In the first half of 2020, we have to wait for higher diesel prices, maybe up to a penny more per liter, but that will probably not last more than six months," he said. declared at E24 Monday.
The new shipping requirements will come into effect on January 1, 2020. The new rules require that fuel burned by ships use up to 0.5% sulfur. The limit today is 3.5%. This will give a huge need for diesel.
Minimum price difference between gasoline and diesel for seven years
Drop in the price of heavy oil
In October, the price of oil had risen by $ 85 a barrel, a level unmatched since 2014. However, it was reversed in November, resulting in "Black Friday discounts" also in the oil market when the price fell to below 60 dollars. for the first time since last October.
But as Norwegian car owners have found many times earlier, a drop in oil prices will not necessarily translate into cheaper gasoline. And while the price of gasoline has dropped more than 5% from the peak, the price of Brentolje in the North Sea is nearly 30% lower than in October.
– There is no direct correlation between the prices of crude oil in dollars and indicative prices or pump prices in kroner – several factors affect both crude oil, market demand, demand and the price in dollars. Finished products such as gasoline and diesel are marketed in an international market. So, even if oil prices fall, they do not immediately pay attention to the purchase price, "Hansen said.
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