Here is a liter of about 9 kroner
There is a long way between the fuel pumps when it comes to the price of gasoline in Sweden and Denmark.
On the other side of the Øresund, a liter of gasoline currently costs a mere 9.90 kroner – while Danish motorists have to pour out about DKK 14.70.
It writes Boosted.
The Swedes’ luxury award corresponds to 14.50 Swedish kroner, but according to Handelsbanken’s commodity analyst Christian Kopfer, the bottom may not have reached yet.
He opens the door to squeeze that the price can fall further, but only if the crude oil price crawls down below $ 50 per barrel. Right now, the level is around $ 56.
Saudis can put turbo on the price dive
If Saudi Arabia chooses to turn up oil production, it can push the price of crude oil even further down. And then Swedish drivers might get even cheaper fuel.
KOPFER emphasizes that the oil market is currently characterized by fierce competition and that the world’s warehouses of crude oil are growing – which in the long term can force prices even lower.
But as always in the oil market, the party is only as secure as the world economy allows. Should China and the United States find a way out of their trade disputes, and should economies gain momentum again, demand for oil will rise – and then price trend will quickly turn on a plate.
