The diesel price has risen recently, especially when the price is compared with that of 1 year ago. The upturn in the diesel price is mainly due to the smaller oil stocks worldwide.
The oil price reached almost $79 per barrel (Brent oil) in early September. This has consequences for the diesel price. That price varies from €103 to €105 per 100 liters, while in the spring the price was still around €100 per 100 liters (for delivery of 4.000 liters).
Strong increase
When we compare the current diesel price with last year's price, we see a significant increase. The price was around €85 per 100 liters in the same period last year. At the time, the oil price was hovering around $55 per barrel, which is a much lower level than it is today.
The recent increase in oil prices is partly due to the report that oil reserves in the United States are lower than expected. It is unclear to analysts whether the rising demand can be met. The weakening of the dollar against the euro also plays a role.
More diesel use
Because weed removal is increasingly carried out mechanically, the consumption of diesel in agriculture is increasing. This is evident from research by the German University in Rostock. Diesel was also used for irrigation last season.