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Drivers of petrol and diesel cars are the first to be affected, but not the last: the pump disaster is accelerating

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All aspects of our lives are affected by the war in Ukraine during this period. Prices are just the pinnacle of the pyramid, especially when it comes to fuel. The major problem is that gasoline and diesel are reflected in almost all the products and services we buy.

For a moment, in recent days, the Washington administration has been flirting with the idea of ​​banning the import of Russian oil, a detail that would create a significant gap in the European market. It was not long before the measure was reflected in a dramatic increase in the purchase price for Brent oil, a benchmark in Europe.

The 2008 crisis, brought about by the current price of oil

In the Asian market, Brent oil hit $ 139 a barrel on Monday, close to a record high of $ 143 in 2008 amid the most painful financial crisis in 100 years.

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In theory, fluctuations in oil prices are reflected at the pump on the Romanian market after about a week. This time, however, given that the war does not end tomorrow, the day after tomorrow, the price of gasoline and diesel continued to rise over the weekend by about 10 bani per liter, but also on Monday.

As a reference, at a Petrom station in Bucharest, the price of a liter of gasoline jumped from 7.15 lei to 7.24 lei. Diesel fuel increased from 7.27 lei to 7.37 lei. At the same time, also in the Capital, at the time of writing this material, there are MOL and Omv gas stations where you can buy standard gasoline for up to 7.54 lei per liter. The trend is worrying and does not seem to be weighed soon.

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The reality in the fuel market is worrying, but by the end of Monday, the Brent crude oil traded for May still managed to appreciate by 9.4% to $ 129.19 per barrel, on the London ICE Futures Exchange, succeeding to recover half of the initial loss. According to data obtained by Bloomberg, negotiations are currently underway to increase the supply of oil globally.

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