EU Fuel Prices Hit Records; ECB Experts Say Diesel Margins yet to Peak
- On September 18, France recorded a new record for diesel prices at €2.39 per litre, while SP95-E10 petrol has remained above its 2022 peak of €2.11 for more than 10 days.
- Fuel prices have surged since the war with Iran began in February, disrupting energy flows through the Strait of Hormuz; Saudi Aramco cut oil to European refiners following an attack on the kingdom's key Red Sea pipeline.
- According to the European Central Bank, refining margins currently contribute €0.41 per litre to diesel and €0.17 to petrol prices in the Eurozone, while excise duties and VAT represent 44% of diesel and 52% of petrol costs.
- Motorists are spending an average of €108 for a 50-litre fill-up, with some stations charging over €2.70 per litre for diesel; a full tank could cost €110 very soon.
- ECB experts note that diesel margins are not expected to peak until October, while a cessation of the Middle East conflict and restored global refining activity remain essential for bringing fuel prices down.
167 Articles
167 Articles
The price of diesel fuel in France has risen to a new record level on Sunday, amid global oil supply disruptions caused by the war in the Middle East.
On Sunday, 20 September, diesel oil reached an average of 2.41 euros per litre, while petrol reached 2.23 euros. In the space of two days, fuel prices reached a record high. But due in particular to the geopolitical context, the increase could rapidly increase.
According to the latest data, diesel and gasoline prices are at or near record levels.
Diesel prices in France hit a new record on Sunday as the war in the Middle East disrupted oil supplies around the world, according to an AFP analysis.
ledauphine.com
On Sunday, the price of diesel oil reached an average of 2.41 euros per litre in France, a new record against the backdrop of geopolitical crisis and disrupted supplies.
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