The price of oil fell by almost 10 percent in world trade on Tuesday. Fears of a global recession sparked the sharpest daily decline since March. In addition, less oil will be consumed than forecast in the northern hemisphere this summer.
The global reference price for Brent crude oil closed at $102.77 a barrel. Brent lost $10.73, or 9.5 percent. Two months ago, the Brent price was at the same level.
Gasoline price remains high
On the markets, supply currently exceeds demand. If demand falls further, oil prices are likely to fall further, according to traders.
The price of petrol in Switzerland, on the other hand, remains stable. According to TCS, the current reference price for a liter of unleaded 95 is CHF 2.28. In May two months ago, at the same oil price, the price of petrol was around 10 percent lower. (kes)