ET 09:11

EU Diesel Hits Record €2.24/Litre as War-Driven Supply Disruptions Persist

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Geopolitical

The average price of diesel across the EU reached a record €2.24 per litre, up from €1.59 in February before US-Israeli strikes on Iran triggered the Middle East war, according to European Commission data published October 1, 2026. Twelve member states logged fresh all-time highs, including Belgium, Italy, Romania and Poland. Diesel exceeded €2.50 per litre in Denmark, the Netherlands and Finland, and hit €2.44 in Germany. Belgium averaged €2.43 per litre on September 28, while Italy rose seven cents to €2.35. Prices climbed one cent over the past week. Supply disruptions — including the effective closure of the Strait of Hormuz, a Houthi blockade of Saudi Red Sea exports, and Ukrainian strikes on Russian refineries — have driven the surge. Elevated European refining margins have compounded the pressure. Taxes account for roughly 40% of pump prices, though the figures exclude targeted subsidies such as French assistance for high-mileage drivers.

ByTicklex Editorial