Dutch petrol price reaches new record high

Dutch petrol price reaches new record high

The price of petrol at the petrol station is soaring in the Netherlands. One litre of Euro95 averaged 1.776 euro in March 2012. With a price difference of 10 euro cents per litre, self-service stations were considerably cheaper than motorway service stations according to Statistics Netherlands.

The highest price for Euro95 is paid at filling stations along the motorways. Consumers paid 73 euro in March 2012 for 40 litres of Euro95 at motorway service stations versus just over 69 euro in self-service stations. The price difference is partly due to the fact that self-service stations have lower labour costs, although petrol was also cheaper at local full-service stations where the price for 40 litres of Euro95 was nearly 71 euro.

Crude petroleum price contributes to price increase

The higher crude oil price contributed considerably to the high current price level. The price of a barrel of North Sea Brent was 92 euro on Friday 30 March, i.e. 10 euro up from twelve months ago. On 1 January 2012, the excise duty rate was also raised: Dutch consumers pay nearly 50 euro cents more for 40 litres of Euro95.

Petrol heavily taxed
Various taxes made up more than 57 percent of the price of a litre of Euro95 in March 2012. Excise duty accounts for the largest part. Save excise duty, a tax is imposed on oil reserves. These taxes constitute a fixed amount of the litre price. Subsequently, VAT is levied on the litre price including excise duty and oil reserves tax. Altogether, taxes make up more than 1 euro of the price of one litre of Euro95. In March 2012, excise duty and oil reserves tax amounted to nearly 74 euro cents per litre. VAT was more than 28 euro cents per litre.

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