Fuel Prices in Europe Head Toward €3: Up in 26 of 27 EU Countries

Fuel prices in Europe are climbing sharply again. According to new data, prices rose in 26 of the European Union’s 27 member states, bringing the continent ever closer to the psychological €3-a-liter mark.

In Germany, a liter of petrol reached €2.30, while in France diesel sold at €2.41 per liter. In Austria, it is now openly warned that the price could reach as high as €3 per liter if pressure on international markets continues at this pace.

European Commission data show record levels since measurements began in 2005: on September 14, the EU average was €2.063 for petrol and €2.159 for diesel. That means filling a 50-liter tank costs around €103 for petrol and €108 for diesel.

The cheapest fuel in the EU remains in Malta — €1.34 for petrol and €1.21 for diesel — while the most expensive is sold in Denmark (€2.56 for petrol) and Finland (€2.51 for diesel).

The main cause is the war with Iran, which is disrupting energy transport through the Strait of Hormuz. Brent crude is trading above $104 a barrel — around $72 before the war, with peaks above $126 during the heaviest fighting. According to Bloomberg, Saudi Aramco has told at least two European refineries it is suspending contracted deliveries for October, after the attack on the key Saudi pipeline to the Red Sea.

European Central Bank experts warn that the peak in diesel prices may not come before October, while energy inflation in the eurozone jumped from 10.3% in July to 14.3% in August.

Source: Трн