Swiss Petrol Prices Soar to New Yearly High

Swiss petrol prices have reached a new high for the year, according to the latest figures from Touring Club Switzerland. The average price for a litre of unleaded 95 petrol is currently CHF2.10, which is a further 5 cents more than last week. Unleaded 98 stands at CHF2.21 per litre, while diesel costs an average of CHF2.38 per litre.

Since the start of the year, prices have risen by around 27% for petrol and 33% for diesel. This surge is largely due to product prices on the Rotterdam exchange, the US dollar exchange rate, and freight rates for shipping on the Rhine. Experts also attribute the high prices to the destruction of refinery capacity caused by wars in Iran and Ukraine.

Crude oil prices have recently risen sharply, with a barrel of Brent crude briefly costing over $108 again, a level last seen in July. The situation is unlikely to ease anytime soon, given the ongoing global conflicts and economic pressures.