Petrol prices are rising sharply once again, reaching a new high for the year
Keystone-SDA
Fuel prices at Swiss petrol stations are continuing to rise unabated. The price per litre at the pumps has reached a new high this year.
According to the latest figures from Touring Club Switzerland, the average price for a litre of unleaded 95 petrol across Switzerland is currently CHF2.10. That is a further 5 cents more than a week ago. The price of unleaded 98 stands at CHF2.21, whilst diesel costs an average of CHF2.38 per litre.
Since the start of the year, prices have risen by around 27% for petrol and 33% for diesel. As a result, prices are edging ever closer to the record highs seen following Russia’s invasion of Ukraine in 2022. At that time, unleaded 95 cost up to CHF2.31 per litre. At that time, the maximum price for a litre of diesel was CHF2.40 – just 2 cents more than at present.
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Why Switzerland’s fuel stockpiles are for Swiss use only
According to the TCS, fuel prices in Switzerland depend mainly on product prices on the Rotterdam exchange, the US dollar exchange rate and freight rates for shipping on the Rhine. Experts say another reason for the current high prices is the destruction of refinery capacity caused by the wars in Iran and Ukraine.
And there is no sign of the situation easing. Crude oil prices have recently risen sharply. On Wednesday morning, a barrel of Brent crude briefly cost more than $108 again – a level last seen in July.
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Translated from German, reviewed by an English Department journalist.
