Lower Gasoline Prices – but Warning of Price Increase

The petrol price is falling to under 18 kronor, the lowest level since mid-January. But a major military conflict in the Middle East can quickly drive up fuel prices again.

» Updated: September 19 2024

» Published: August 06 2024

Lower Gasoline Prices – but Warning of Price Increase
Photo: Pontus Lundahl/TT

The spot price of 95-octane gasoline at manned stations is lowered by 25 öre to 17.94 kronor per liter. The diesel price is lowered by the same amount to 17.54 kronor per liter.

And the main reason for this is the weak economic data from the USA last week, which indicated a weaker American economy than expected, says Christian Kopfer, commodity analyst at Handelsbanken.

This has caused stock markets around the world to stumble and at the same time, the dollar has weakened, he says.

As a result, oil prices have generally gone down, which has driven down fuel prices.

But one thing that could make oil prices skyrocket – is if there were to be an extended military conflict in the Middle East, says Christian Kopfer.

The Middle East is the world's most important region when it comes to oil production. But right now, the market is not at all worried about it.

If there were to be a large-scale military conflict in the Middle East involving a major oil-producing country, such as Iran, it would lead to oil prices over 100 dollars, says Christian Kopfer.

Then there would be an immediate effect on fuel prices. Probably the dollar would strengthen as well in that situation, and the krona would weaken slightly.

And if the oil price were to go up to 150 dollars somewhere, then fuel prices would go up to 25 kronor.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Hooters Files for Bankruptcy, Plans
1 MIN READ

Hooters Files for Bankruptcy, Plans to Sell Company-Owned Locations

Eurozone Unemployment Drops to 6.1
1 MIN READ

Eurozone Unemployment Drops to 6.1 Percent in February

Eurozone Inflation Eases to 2.2
1 MIN READ

Eurozone Inflation Eases to 2.2 Percent in March

Swedish Central Bank Boosts Dollar
1 MIN READ

Swedish Central Bank Boosts Dollar Holdings in Reserve Shift

Central Bank Deputy Predicts Inflation
1 MIN READ

Central Bank Deputy Predicts Inflation Easing in Sweden

Tesla Faces Significant Decline in
1 MIN READ

Tesla Faces Significant Decline in Swedish Car Registrations

Sweden's New Industrial Deal Sets
3 MIN READ

Sweden's New Industrial Deal Sets Wage Growth for 2025-2027

Snus Delivery Strike Averted as
1 MIN READ

Snus Delivery Strike Averted as Union Reaches Agreement

Swedish Manufacturing Gains Momentum as
2 MIN READ

Swedish Manufacturing Gains Momentum as Eurozone Shows Positive Trends

Positive Outlook for Harvest Season
1 MIN READ

Positive Outlook for Harvest Season Despite Challenges Ahead

Sweden's New Industrial Agreement Brings
2 MIN READ

Sweden's New Industrial Agreement Brings Stability in Uncertain Times

Stockholm Stocks Rebound with Global
2 MIN READ

Stockholm Stocks Rebound with Global Markets as Key Shares Rise

Gold Prices Hit Record High
1 MIN READ

Gold Prices Hit Record High as Tariff Decision Looms

Australian Central Bank Holds Rates
1 MIN READ

Australian Central Bank Holds Rates Steady, Signals Caution on Inflation

Bankruptcies Rise Again with Hotels
1 MIN READ

Bankruptcies Rise Again with Hotels and Restaurants Hit Hardest

Asian Markets Rebound as Investors
1 MIN READ

Asian Markets Rebound as Investors Await Tariff News

Trump's Global Car Tariffs Begin
3 MIN READ

Trump's Global Car Tariffs Begin as Broader Trade Measures Loom

Open AI Secures Record 400
1 MIN READ

Open AI Secures Record 400 Billion Kronor Investment Boost

Swedish Industry Reaches 6.4 Percent
2 MIN READ

Swedish Industry Reaches 6.4 Percent Wage Agreement Over Two Years

Genre image
1 MIN READ

Swedish Industry Sets 6.4 Percent Wage Increase in New Agreement

US Stock Markets Mostly Rise
1 MIN READ

US Stock Markets Mostly Rise Despite Tariff Concerns

EU Stands Firm Against Trump's
2 MIN READ

EU Stands Firm Against Trump's Tariff Threats, Says Swedish Minister

Latvia Secures 2.1 Billion Kronor
1 MIN READ

Latvia Secures 2.1 Billion Kronor Deal with Saab for Air Defense Systems

Renault Acquires Full Ownership of
1 MIN READ

Renault Acquires Full Ownership of Renault Nissan Automotive India

1,700 Jobs Saved as Northvolt
2 MIN READ

1,700 Jobs Saved as Northvolt Navigates Bankruptcy in Sweden

Swedish Pension Saver Loses Appeal
1 MIN READ

Swedish Pension Saver Loses Appeal in Falcon Funds Fraud Case

Huawei Reports First Quarterly Loss
1 MIN READ

Huawei Reports First Quarterly Loss in Years Following Sanctions

France Fines Apple 150 Million
1 MIN READ

France Fines Apple 150 Million Euros for Competition Violations

Maurel & Prom Shares Drop
1 MIN READ

Maurel & Prom Shares Drop 15 Percent After Venezuela License Revoked

Norwegian Oil Fund Invests 1.4
1 MIN READ

Norwegian Oil Fund Invests 1.4 Billion Euro in Offshore Wind Projects

Sweden's Wage Talks Reach Critical
1 MIN READ

Sweden's Wage Talks Reach Critical Stage as Deadline Looms

Sweden Leads Nordic Region in
1 MIN READ

Sweden Leads Nordic Region in Money Laundering, Report Finds

Swiss Varo Energy to Acquire
1 MIN READ

Swiss Varo Energy to Acquire Swedish Fuel Company Preem

German Inflation Drop Signals Potential
2 MIN READ

German Inflation Drop Signals Potential ECB Rate Cut in April

Half of Retrained Workers Shift
1 MIN READ

Half of Retrained Workers Shift to New Industries, CSN Reports

EQT-Backed Omega II Bids 54.9
1 MIN READ

EQT-Backed Omega II Bids 54.9 Billion Kronor for Fortnox

Food Prices Continue to Climb,
3 MIN READ

Food Prices Continue to Climb, but Major Increases May Be Over

Stockholm Stock Exchange Drops as
2 MIN READ

Stockholm Stock Exchange Drops as Trump's Tariff Plans Rattle Markets

Tokyo Stocks Drop Sharply as
1 MIN READ

Tokyo Stocks Drop Sharply as Trump Tariffs Loom

Trump and Starmer Discuss Progress
1 MIN READ

Trump and Starmer Discuss Progress on US-UK Trade Deal