Swiss Fuel Prices Hit New Yearly High Amid Rising Crude Oil Costs
Fuel prices in Switzerland have hit a new yearly high, according to data from Touring Club Switzerland. The average price for unleaded 95 petrol is currently CHF2.10 per litre, while diesel costs an average of CHF2.38 per litre.
The prices have risen by around 27% for petrol and 33% for diesel since the start of the year, putting them close to record highs seen following Russia's invasion of Ukraine in 2022.
Experts say that the current high prices are due to a combination of factors, including product prices on the Rotterdam exchange, the US dollar exchange rate, and freight rates for shipping on the Rhine. Additionally, the destruction of refinery capacity caused by wars in Iran and Ukraine has also contributed to the rise in fuel prices.
Crude oil prices have recently risen sharply, with a barrel of Brent crude briefly costing more than $108, a level last seen in July.