The crisis does not affect the oil giants
The Ukraine War seems to have become the turning point of the world economy during this decade. A geopolitical crisis that has served as a trigger for an economic crisis that seems to justify inflation in all areas, including in the fuel industry and the car market.
While the prices of energy and fuels do not stop rising, the big oil companies have seen their best year in terms of profits, and that is not yet over 2022. In general, big companies like ExxonMobil or Chevron have tripled their income, while others such as Shell, BP or Repsol have doubled their profits compared to the same period in 2021.
The first two have earned $17.9 billion and $11.6 billion, respectively. Astronomical figures that do not fit with the idea of the economic crisis and inflation, obviously. And there are not a few who criticize this fact, which has pushed the Biden administration of the United States government to keep an eye on the companies.
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The German chancellor and the European Union also seem willing to take action on the matter with the aim of limiting fuel prices. Something for which a practically international agreement would be necessary for a necessary good and in an industry with powerful companies behind it.
Gone are the days of the pandemic where many citizens came to fill the tank at just under 1 euro per liter, with experts now stating that in the near future they could easily touch 3 euros.
Spain is currently the country in Europe with the highest fuel price: Gasoline 95 at an average of 1,881 euros and diesel at 1,872 euros. Figures that in the case of gasoline, exceed by just over 10 cents the second most expensive country on the continent, Albania.
The electric car does not seem to be exempt from this escalation of prices either, which also affects this energy sector. Although clearly cheaper than the traditional internal combustion model, they have not been spared from increased maintenance costs.
