42 million people are expected to hit the road the weekend of July 4 in the USA, a record. Could this affect the price of gasoline around the world?
In Europe, the end of May and the beginning of June were marked by a new explosion in fuel prices. The fault, especially for gasoline, at the start of the driving season to USA. A period of leave which citizens take advantage of to leave by car. Which creates demand pressures and made mechanically raise prices.
If this season is now over, another great period of car travel will soon arrive across the Atlantic: the 4th of July. On this Monday, the citizens of the country will celebrate the independence of the United States. The weekend is therefore likely to be marked by travel. The American Automobile Association (AAA) even estimates that 42 million motorists will take to the road. A recordahead of the 2019 peak, with 41.5 million road users.
An impact on the price of gasoline?
Under these conditions, it is possible to wonder if this will not affect the price of gasoline in the world. The demand will increasewhich will force sellers to store more fuelin order to deal with it. The price per barrel could therefore mechanically increasewhich would impact users around the world. This despite the increase in daily production of the OPEC+ countries, starting in July.
“The volume of travelers we expect for Independence Day is a sure sign that summer travel will kick into high gear” testifies Paula Twidale, senior vice-president of AAA Travel. “Earlier this year, we started to see travel demand increase and it does not weaken. »
Currently, fuel prices in France greatly exceeds two euros per liter. The diesel is even more expensive than the SP95s but still doesn’t beat the SP98. In the USA, the gallon of gasoline (3.78 litres) is displayed at more than five dollars. Or about 1.25 euros per liter. It may not seem like much, but citizens are used to even cheaper fuel, because present in the country and much less taxed than in Europe.
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