Gasoline again at €1.40 – when and why is a free fall expected

It seems that it is only a matter of time, according to KPMG, for the price of gasoline to fall, which has stabilized today at astronomical levels.

Sta The heights he climbed In recent months gasoline price, With causing a bullish ‘rise’ headache for consumers, Those who face difficulties in refueling their cars.

The jump in prices for unleaded products to particularly high levels is not a purely Greek phenomenon The wave of precision also hit the rest of European countries Which is eagerly searching for ways to reduce the financial burden on citizens.

The truth is that the latter are showing signs of fatigue from fixing prices at crazy levels, and are looking for answers to the question “When will we see gasoline at €1.40 per liter again?”

The answer is provided by the audit, financial and consulting services company KPMG According to its estimates Only from next year An important matter will be recorded Low price of “black gold” because of Increase in production Of the oil producing countries and Decrease in demand By consumers.

Experts estimate that the average price of a barrel of Brent crude – which is used as a benchmark in Europe – will trade $60 in 2024; Represent Down 25% compared to today.

Naturally, such a scenario would have particularly positive effects on gasoline and diesel prices, providing a good opportunity A great breath of fresh air for European consumers.

According to her estimates, of course, Gasoline drops to €1.40/litre At the European level, access to it will be slow, as there will be a need for it About three years from now. As for diesel, according to KPMG data, this will be within three years from today in the range 1.3 euros/litre

Why did the price of gasoline increase?

The consultancy also explains the reasons why oil prices – and therefore fuel prices – have reached particularly high levels in recent months, with a focus on… Demand recovery After her health crisis covid-19, in Geopolitical tensions And of course in The decision to limit production by OPEC and its allies.

However, KPMG estimates that in the coming months The price of crude will fall Where “black gold” production will recover and any doubts about the development of the epidemic will disappear.

Finally, it includes a list of reasons for the high price of fuel Decrease in the value of the euro against the dollarWhich makes crude oil imports more expensive.

However, it is estimated that The euro will recover against the dollarWith the European economy taking an upward trajectory.

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