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Home BUSINESSPetroleum price to go up
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Mon, 26 Jan, 2015 12:02:53 AM
FTimes – STT Report, Jan 26

The price of crude oil is expected to remain low in the beginning of the year.

However, the price per litre could increase at service stations after a massive stimulus package of the European Central Bank sees the euro-value decrease against the dollar.

As a result, oil import to the euro zone will become expensive.

According to Helena Vänskä, managing director at Finnish Oil and Gas Federation, the average price of crude oil per barrel will this year be set at 70-80 dollars. Currently, the price is 50-60 dollars.

“The estimation is that the price will stay low at the beginning of the year and by the end of the year there will be a slight increase,” said Vänskä.

According to Polttoaine.net, the price of gasoline 95 octane was this weekend at its lowest at about 1.24 euro per litre. The average price, according to the website, has been approximately 1.33 euros.

The fall in crude oil price at service stations around the country will remain limited, since most fuel is taxed.

However, the difference with the price in last summer is clear, as the fuel chart revealed prices of 1.60 to 1.70 euros per litre.

At that time, the cost of crude oil was 115 dollars per barrel due to unrest in the Middle East and as the rise of the radical group Isis had raised concerns.

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