Rising Diesel Prices Put Pressure on Businesses
- On Thursday, European Commission data revealed average EU diesel pump prices reached a record €2.24 per litre, equivalent to US$9.60 per US gallon, up from €1.59 before the Middle East conflict began.
- Fuel prices have climbed since February due to the effective closure of the Strait of Hormuz, Houthi blockades of Saudi exports in the Red Sea, and Ukrainian strikes on Russian refineries.
- Diesel prices exceeded €2.50 per litre in Denmark, the Netherlands, and Finland, reaching €2.44 in Germany; in Belgium, prices hit a record €2.43 per litre on Monday, while Italy rose to €2.35.
- Rising fuel costs strain household budgets across the European bloc, with a new Euronews analysis finding that filling a 50-litre tank costs more than 15% of the gross monthly minimum wage in Bulgaria.
- Taxes account for 40% of the price paid at the pump on average across the bloc, and ECB experts noted in September that diesel margins were expected to peak in October, though high refining margins persist.
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The price of diesel at the pump in European Union member states has reached a new record high with an average weekly price of 2.24 euros per liter. Where is the price of diesel increased The price increased by one minute compared to the record set last week for diesel, according to a compilation of national data published today by the European Commission. Average price records were recorded in twelve of the 27 member states including Belgium, I…
Average price records have been broken in 12 of the 27 Member States, including Belgium, Italy, Romania and Poland, according to an AFP analysis of the data transmitted weekly to Brussels by the national authorities since 2005. These data reflect the prices displayed by the service stations, sometimes at the beginning of the week or at the previous weekend depending on the countries. The price per litre of diesel fuel, the main fuel for road fre…
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