It pays to be quick Now you can fill up cheaper than you have in years

Fuel prices are falling again after a long period of increases. Drivers are benefiting as the price of unleaded 95 has fallen below CHF 1.56 in some cases.

Owners of combustion cars can rejoice. The price of petrol is lower than it has been for a long time. "Prices haven't been this low since November 2021 during the coronavirus crisis," says one petrol station operator, as reported by 20 Minuten.

According to TCS spokeswoman Vanessa Flack, the price of petrol is at its lowest level in three years. While the war in Ukraine caused prices to rise back then, the current price for a liter of unleaded 95 is 1.72 francs, for unleaded 98 1.83 francs and for diesel 1.80 francs.

In some cases, fuel costs even less. Ramon Werner, CEO of Ruedi Rüssel's parent company Volenergy, tells blue News: "Our lowest price at Ruedi Rüssel is currently 1.559 for unleaded and 1.609 for diesel. This is the lowest price we've seen for a long time."

In June 2022, drivers had to dig deepest into their pockets for a liter of petrol. Back then, a liter of unleaded 95 cost CHF 2.25. Compared to today's low price of CHF 1.56 per liter, the difference is around CHF 0.70 - a drop of around 31%.

However, the volatility on the markets is enormous: "When the first missiles were fired from Iran towards Israel this week, the price of crude oil jumped within minutes. You can feel the uncertain situation in the world and I wouldn't be surprised if we saw another price jump at the petrol stations," says Werner.

We must not forget that there is a lot of unrest in the world at the moment. Wars can drive up the price of gasoline significantly. ZKB chief strategist Manuel Ferreira, however, told "20 Minuten" that the impact would only be limited: Since the Israeli ground troops in Lebanon and the missile attacks by Iran on Israel on global trade flows, the price of crude oil has risen by 5 percent.

However, the increase merely reflects the fear that the supply of oil from Iran will fall away. It is conceivable that Israel will retaliate against Iran. But none of the major powers are interested in a further escalation. A renewed rise in energy prices and thus inflation is therefore not to be expected.

Crude oil remains at a low level

Iran is an important energy exporter. The Islamic Republic accounts for up to four percent of global oil production and crude oil exports. However, most of this goes to Asia, which is why the direct dependence of Western countries is low. This reduces the risk of an abrupt, comprehensive import stop.

"The supply flows are still intact. In addition, the oil price has recently suffered from a cyclical weakness in demand," says Ferreira.

Commodity oil remains at a comparatively low level. In September, the price of a barrel of Brent North Sea oil briefly fell below USD 70 for the first time since 2021 and is currently at USD 72.