Price of oil closes 2014 with london competition

Posted on 31-12-2014 at 17:54 by sir_smokalot – 10 Comments”

Hip-hip-hooray for low oil prices! In a year’s time the price for a barrel of oil almost halved, and we notice that at the pump.

At december 31, 2013 cost of a barrel of Brent oil (a 151 litre $109.95, at the exchange rate of that time (€1 = $1,379) 79,73 euro. Today, this has almost halved: a keg of Brent, tap you on the head for $56,77. Unfortunately, the dollar is currently slightly stronger (€1 = $1,214), so translated we get at 46,76 euros. No 48% decline as the dollar, but still a neat 41%.

The Dutch state will cost only VAT loss, the accijnsinkomsten remain the same. The suggested retail prices for petrol/diesel costs 1,59/1.29 euros to the litre, by the end of 2013, this was 1,76/1,47 euro. However, today, those who for 1,59 tanks is very expensive. We have a drink there tonight, a bottle of Pol Roger!

Source: Ycharts

For Russia, the champagnedruiven or acid: not only does their oil for them less and less; also the Russian ruble, which is the last day cleverly recovered from the previous valutahysterie, goes back down: he lost today to almost 8% in value.

The expectation for the long term is that the price of oil relatively low, he will only be a dollar or 80 per barrel to rise, so think most of the analysts. With that knowledge we go a nice 2015!