At a new all-time high of 2.23 euros per liter—up from 2.16 euros the previous week — diesel prices at gas stations across the European Union have skyrocketed, according to an analysis by AFP based on European Commission data published on Thursday.
This new price cap—which corresponds to $9.63 per U.S. gallon — comes as wars in the Middle East and Ukraine have restricted crude oil supplies and caused damage to refineries, leading to a sharp rise in energy prices worldwide.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Nineteen EU countries, including Germany, France, and Italy, recorded record-high average prices, based on weekly data dating back to 2005.
Among the countries that set new records, Denmark and Finland had the highest prices, at 2.56 euros per liter of diesel, followed by Germany at 2.46 euros.
Prices in Belgium and France hover around 2.40 euros, while in Italy they are approaching 2.30 euros.
According to the same data, processed by CNA, the price of diesel in Cyprus stands at 1.95 euros per liter (1.948 euros) and is higher than in only three EU countries: Spain, Malta, and Bulgaria. The average price of 95-octane gasoline in Europe is 2.09 euros, while in Cyprus it is 1.68 euros. The price of 95-octane gasoline is also higher than in only three other EU countries, according to the data: Bulgaria, Malta, and Sweden.
This cost includes taxes, such as VAT and excise taxes, which vary by country and account for, on average, 40% of the pump price across the bloc.
Targeted subsidies, such as relief measures for long-distance drivers in France, are not included in this calculation.
Greece, Estonia, and Slovakia had reached their previous highs in 2022, in the wake of the Russian invasion of Ukraine.
Germany, France, Poland, and four other countries had set their previous records in March or April 2026, when Iran blocked the Strait of Hormuz following U.S.-Israeli strikes on its territory.
Nine of the 19 countries recently broke records set in August or September 2026.
In addition to the situation in the Strait of Hormuz, prices rose due to other global disruptions in the supply chain, such as the Houthi blockade of Saudi exports in the Red Sea and Ukrainian strikes on Russian refineries.
A 40% increase since February
Spain and Sweden have also seen price increases, but they remain below the peak levels recorded in 2022, in the wake of the Russian invasion of Ukraine.
Since late February, these countries have significantly reduced excise taxes on diesel fuel, according to the Bruegel Institute.
Other European governments have adopted fiscal measures similar to those implemented during the 2022 energy crisis, primarily through temporary reductions in certain fuel taxes.
However, the amounts involved remain “significantly lower” at this stage compared to 2022, Alexander Roth, a researcher at Bruegel, told Agence France-Presse (AFP).
The current energy shock is so far “less severe” and “more gradual” than in 2022, at a time when some governments have more limited fiscal leeway, he added.
The data, which is drawn from the European Commission’s weekly oil bulletin, are submitted by national authorities and generally reflect the prices posted at gas stations at the beginning of the week or at the end of the previous week.
The overall average for the EU-27 is calculated on a weighted basis according to each Member State’s fuel consumption in 2024.
This average has risen by about 40% since late February.
During the same period, the price of diesel in the United States skyrocketed by more than 70%, reaching approximately $6.50 per gallon.
READ ALSO: Nicolas called Christodoulides: He expressed dissatisfaction regarding Keravnos and presented a “list” of agreements that are not being implemented | AlphaNews
Source: CNA
