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I think there will be an EU wide embargo against Russian oil...

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    I think there will be an EU wide embargo against Russian oil soon. Right now where I live in Germany premium gasoline costs around 2 Euros per litre. I think the Netherlands are the only country with higher prices, it should be around 10 % higher there.
    Last year Russian oil accounted for 35 % of imports and now it is already down to 12 %. Germany made a deal with Poland to get oil via one of their ports to supply a refinery which supplies Eastern Germany and Western Poland with fuel and heating oil. The problem is that each refinery operates with specific oil brands, so Russian oil can't be easily substituted with every other oil brand as far as I understand it.
    Soon there will be a reduced tax for buying fuel for three months but still the prices are way higher than before the war broke out.
    The Russian threats are in regards to gas purchases, which could be a serious issue. We will get the infrastructure for mobile a LNG terminals by early 2023. And already now electricity prices have increased significantly for many people even though the full price effect has not even materialzed yet. And rising inflation in general doesn't help car sales in general. Hard to say wether the pros outweigh the cons for EV sales. But yes I believe fuel prices have increased more than electricity prices.
    Last edited by Stephan90: 29/04/22
 
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