That's an issue of gas, not oil. Oil tends to be transported by tanker so it can be moved where needed. Europe's gas tends to come in via pipeline. Although it

That's an issue of gas, not oil. Oil tends to be transported by tanker so it can be moved where needed. Europe's gas tends to come in via pipeline. Although it is now transported as LNG. Here in the UK petrol prices are dropping while gas prices are still predicted to increase. Also the govt here hasn't been warning about loss of power and heating. We were already importing gas via LNG. And are currently exporting that to the mainland via pipeline aswell as exporting electricity. Short term contracts for gas are (were?) Incredibly cheap because we're receiving more LNG than we can actually pump to the rest of Europe. Unfortunately retail rates depend on longer term contracts.