Swiss fuel prices set to drop in boost for motorists

The Local Switzerland
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Swiss fuel prices set to drop in boost for motorists
The price of gasoline is expected to drop. Photo: Pixabay

With the cost of health insurance premiums and electricity are set to rise sharply on 2024, at least petrol prices are dropping in Switzerland.


A few days ago, the price at certain Swiss service stations exceeded 2 francs per litre of unleaded gasoline.

But now these prices are expected to decrease, experts say, bringing some much needed relief for consumers.

The reason for the fall is attributed to significant drop in crude oil prices globally in recent days.

And if the trend on the crude oil markets continues — as it is expected to — "petrol prices in Switzerland should soon fall,” according to Giovanni Staunovo, commodities analyst at UBS bank.

This decline is caused by rising US interest rates and resulting recession fears, he said — both of which have a negative effect on the growth of oil demand, "even if this demand is currently still very strong." 

“The sharp drop in the price of American gasoline probably encouraged service stations not to buy too early and to hope for even lower prices,” Staunovo added.

Experts are not saying when exactly fuel prices at all Swiss service stations will fall below the 2-franc mark, but they agree that if the trend on the crude oil markets continues, this drop should be soon seen at the pumps.



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