After many months in which drivers were downright terrified by the evolution of fuel costs on the local market, summer brings a calming of the situation.
According to the forecasts outlined for the global oil market, the barrel will not exceed the threshold of 90 dollars per barrel in the next period. As things stand in the case of oil, neither gasoline nor diesel will jump the horse and have no chance to become more expensive exponentially, as happened in the last months.
According to a recent poll by Reuters, we will see oil prices rise in the coming period, but this should not scare us, as the situation seems to be under control. Exactly as we pointed out previously, the level of the barrel of oil will no longer exceed the value of 90 dollars per barrel, it will remain within this reasonable cost limit.
We got rid of the high prices of petrol and diesel for good. Now you can ditch the bus ticket, get your car out of the garage
Brent oil looks set to average $84.73 a barrel in 2023, down from an average of $87.1 forecast in April and from current levels of around $73 – these are the calculations that and they were made by more than 40 economists consulted on this topic by the journalists of the prestigious media publication.
If we were to average the cost estimates for a barrel of oil, formulated by those economists, we would have a cost of $80 per barrel this year, a price level that does not put pressure on the fuel market and keeps costs for drivers in tolerable limits.
“Given the macroeconomic uncertainties and the drop in oil prices in May, we believe that OPEC would like to further adjust production targets downward, but may have to risk losing market shares to Russia,” said Suvro Sarkar, the leader to the energy sector team at DBS Bank.
