After marking record lows in April 2020 due to the pandemic, the Oil price has been on a meteoric rise since then. In addition, the forecasts of economic recovery thanks to the vaccine have made that since November the price of a barrel has skyrocketed.
During the last year and a half we have seen our mobility compromised, and thanks to the efficacy of vaccines, this summer, prepandemic trips are expected to pick up again. However, travel habits will change, and the use of private vehicles will be greater, And because of that we will notice the rise in the price of oil directly out of our pockets.
The ‘pen and rocket effect’
The National Markets and Competition Commission (CNMC) itself calls effect ‘feather’ and ‘rocket’ to the fluctuations that occur in the price of oil. According to the CNMC, when prices go down they do it like a feather, well consumers they take a long time to notice the price drop, while when they go up, they do it like a rocket, Y In a few weeks, the increase in the cost of filling our tank is more than evident.
The Organization of Consumers and Users (OCU) denounces that in April 2020 prices fell to € 1.07 for gasoline and € 0.98 for diesel, but what, nevertheless, the speed of descent at the gas stations was much slower, and was nipped in the bud when Little by little the economy began to reactivate and with it the price of oil rose.
The OCU maintains that, however, the speed has been much greater when it comes to raising the price, especially since November. In February, the price of gasoline stood at € 1.27 and diesel at € 1.15, and according to data from ‘ElEspañol’, at the beginning of July the price was € 1.38 and € 1.25 respectively.
Since February, the OCU urged the CNMC to investigate the fuel hike and to take “Necessary measures to avoid the boom and rocket effect in prices that hurts consumers’ pockets ”, as it warned that the rise in the price of a barrel of oil could mean an extra cost of between 180 and 210 euros per year.