Rising fuel prices squeeze household budgets across Europe as affordability varies by income
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Global tensions are rising, the Strait of Hormuz is unsafe, and Europe must urgently replenish its gas storage facilities for the winter. All of this will make energy more expensive on the stock exchanges and on household bills, writes Revido analyst Kristýna Bajer in a commentary.
Rising fuel prices squeeze household budgets across Europe as affordability varies by income
Retail fuel prices alone do not tell the whole story of how consumers cope with commuting expenses; the average monthly income plays a decisive role in preventing energy costs from overwhelming family budgets. Geopolitical instability in the Persian Gulf, transit restrictions on crude oil shipments through the Strait of Hormuz, and a sharp increase in international oil prices recently triggered a new wave of fuel price hikes worldwide. Although …
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