Oil price and price at the pump continue to fall due to ‘the Trump factor’

This article was last updated on May 7, 2025

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Oil price and price at the pump continue to fall due to ‘the Trump factor’

Three months ago motorists were still grumbling at the pump. Anyone who had to fill the tank with Euro95 then paid an average of 2,188 euros per liter. Today is the average suggested retail price From large oil companies only 2,074 euros.

In practice, many people already refuel for less than 2 euros per liter. “At unmanned gas stations without brand, the price is often up to 15 cents cheaper,” says Paul van Selms, from consumer consultancy UnitedConsumers.

The Trump factor

At a gas station in the Brabant Standdaarbuiten, for example, people already refuel under 2 euros for a liter of Euro95. A few motorists say they make it all the time. “But if I really have to fill it up, I will go to Belgium,” it also sounds. “That saves a quarter per liter.”

A few frown the eyebrows when he hears the reason for the cheaper fuel prices: the return of Trump as president in the White House in January. Mathieu Blondeel from the VU environmental issues even speaks of ‘the Trump factor’ with oil prices. “He has deposited the global economy into an impasse with his last month. And then the demand for oil drops.”

On the last working day of President Biden, crude oil cost just under 77 euros per barrel, today that price with 52.2 euros is a third cheaper. Trump announced at the beginning of last month on the himself voted ‘Liberation Day’ Huge import duties on foreign products. In a week a barrel of rough Brent oil became spacious 11 euros cheaper.

That the price keeps falling has a second cause according to Blondeel. “An internal war within the oil -producing countries,” he says. They coordinate with each other how much oil can be pumped up to keep the price at the same level. With a falling question, less is usually pumped up.

Voter players

Yet the opposite is now underway. “There are a number of notorious cheaters within the oil -producing countries,” says Blondeel, referring to Kazakhstan, Iraq and the United Emirates. “They produce more than they are allowed to produce, in order to be able to earn more. As a punishment, all countries now produce more oil. This ensures that the price is now falling so fast.”

That indicates motorists to think. Because despite the hard -falling oil prices, the average gasoline price is still above 2 euros. That again has his reasons, says Van Selms of UnitedConsumers. “The substantial fall in price that you see in oil is not seeing the pump here in the Netherlands in the same way. Two thirds of the price of gasoline consists of excise duty and VAT. And they are insensitive to price fluctuations.”

Nevertheless, Van Selms expects that the average consumer price will certainly fall below 2 euros per liter in the coming period. If only temporarily. “I don’t think we will have a structural low price. That is not at all to the advantage of the oil-producing countries. They benefit more from a price around 80 euros, since they are countries that cover their government budgets with oil income.”

Inflation

The falling oil price now has more consequences than just the price at the pump. This way, energy prices can also fall further. For example, consumers can see that in the supermarket. The high energy prices have been ensuring that fresh products, such as fruit and vegetables, only become more expensive. This also applies to frozen products, which must be cooled with energy.

Last week, the Central Bureau of Statistics (CBS) mentioned the announcement of the Price increases from April The falling oil prices still like a bright spot for the coming months. “This is a signal that may indicate that inflation could go down somewhat in the coming months,” said CBS economist Frank Notten.

Cheapest refueling in the Netherlands:

Refueling in the Netherlands: