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[ ARTICLE ]

False claims that the price of oil will increase to over 4 euros per liter

HIBRID

Wrote: Fatbardh Dema

The claim that the price of a liter of diesel could rise to more than 4 euros was published on Monday (March 2) by the pages "Kosovo Report"(archive) and "Voice of Israel in Kosovo"(archive) on Facebook.

What's wrong with this claim?

After fact-checking by hibrid.info, it was determined that this claim is false. It has not been found published in any credible local or international media.


The claim of an increase in the price of oil to more than 4 euros was published after reports that Iran had destroyed several oil tankers.


What is known about the increase in oil prices?

Hibrid.info has found articles published in foreign media such as "Reuters" and "CNN", which have reported on the price of oil.

Reuters writes that the price of petroleum products has exceeded 3 US dollars per gallon (1 gallon = about 3.78 liters) (see here).

While the medium CNN reported that "The average price in the U.S. for a gallon was just under $3 on Monday, according to AAA survey", which was conducted at gas stations. This is about 2 cents more than the previous day's survey and six cents more than a week ago."

Independent oil analyst Tom Kloza, an advisor to Gulf Oil, told CNN that he expects retail prices of petroleum products to increase by 5 to 10 cents per day per gallon for at least a short time. He added that this increase is expected to "stop" somewhere around $3.25 per gallon.


A little context

Iran's retaliation in response to US and Israeli attacks has disrupted global oil supplies, after hitting production facilities in neighboring countries and ships in the Strait of Hormuz, a key global trade route.

The Strait of Hormuz is located between Oman and Iran, connecting the Persian Gulf in the north with the Gulf of Oman in the south and beyond to the Arabian Sea. About 20 percent of the world's oil, about 18-19 million barrels per day, passes through this strait. (see here REL article)


Analyze

The claim by several Facebook pages that the price of a liter of diesel could increase above 4 euros is untrue. After verification by hibrid.info, no credible local or international media reports were found to support this figure.

Reuters and CNN reports indicate that the price in the US has been around $3 per gallon (1 gallon = about 3.78 liters), with expectations for an increase to $3.25 per gallon, a figure that is far from the claim of over 4 euros per liter.

Based on its work methodology, hibrid.info assesses these claims as "Fake News".

rationale

The “Fake News” rating is given to informational content that is entirely fabricated or that contains factually incorrect claims or information. Content that is rated as fake news can be defined as having been created and distributed with the intent to misinform the public, i.e., to present a claim that is completely false as fact.

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