This month’s cold spell in Europe, which could bring snow to places like Germany and Britain, will increase the demand for petrol as the heating season comes to an end.
According to Maxar Technologies Inc., Atmospheric G2, and Marex, temperatures are anticipated to be below average across a large portion of the continent with a probability of snow early in the month. The so-called sudden stratospheric warming, which can bring on extremely frigid temperatures in the Northern Hemisphere, is to blame for the delayed return of cold weather.
The change in weather comes at the conclusion of a mild winter that assisted Europe in maintaining its petrol storage levels and preventing rolling blackouts during the energy crisis, which could have been disastrous. But, a cold March could pressure those inventories a bit — and also comes as a storm has dumped snow to the northeast US, including New York.
According to Marex meteorologist Evangeline Cookson, snowfall is anticipated over areas of the UK, the Alps, Poland, and southeastern and northeastern Europe.
Gas prices have decreased by more than 80% since August to levels recorded before Russia’s invasion of Ukraine, despite the fact that the mild weather in Europe so far this winter serves as a reminder of climate change.
This has helped keep petrol inventories higher than average and has alleviated concerns about the recession and excessive inflation. Currently, storage levels are 62% full, and some nations have added to them when they would normally be drawing them down.
From late last month, meteorologists began to see the onset of an SSW. Through early March, it will bring colder-than-average weather to northern, central, and western Europe while bringing milder-than-average weather to the southeast, according to Amy Hodgson of Atmospheric G2.
Maxar meteorologist Matthew Dross said that even if the SSW is ending, its chilly effects will endure.
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