You might want to fill up your tanks this evening: on Thursday morning, the price of petrol will increase.

A litre of Super 95 petrol will rise by 2.7 cents, bringing the new price to €1.131/l. The price of Ultimate 98 petrol also rises, up 0.028, meaning a litre will now cost you €1.194.

Earlier both types of unleaded fuel now benefit from a drop in price per litre at the pumps in Luxembourg.

Super 95 petrol has fallen in price by 2.4 cents to make the price per litre 1.070 euros.

Meanwhile, a slightly bigger drop of 2.6 cents makes Super 98 petrol 1.125 euros per litre at the pump.

As mentioned in Wednesday’s article concerning diesel, the main reason for the price drop relates to Opec member countries who have failed to agree on oil production reduction, therefore the market is saturated. This is bad news for the oil companies, but good news for others, notably the consumer.