Diesel prices at fuel stations across European Union countries reached a new record of 2.23 euros per liter, up from 2.16 euros the previous week, according to an analysis by Agence France-Presse of national data published by the European Commission on Thursday.
Record prices in 19 countries
The data, published weekly since 2005, showed record prices in 19 of the EU’s 27 member states, including Germany, France and Italy, driven by energy shocks stemming from the war in the Middle East and the war between Russia and Ukraine.
Denmark and Finland recorded the highest prices, with diesel — also known as gasoil — reaching 2.56 euros per liter in both countries. They were followed by Germany at 2.46 euros, Belgium and France at about 2.40 euros, and Italy at about 2.30 euros.
Prices also rose in other countries, including Spain and Sweden, but remained below the peak recorded in 2022 following the Russia-Ukraine war.
The European Commission’s Oil Bulletin publishes the data after collecting it from national authorities. The figures reflect fuel-station prices at the beginning of the week or the end of the previous week.
U.S. diesel prices jump 76%
In the United States, diesel prices jumped to a record 6.52 dollars per gallon this week, up nearly 76% from about 3.69 dollars a year earlier, adding to economic and political pressures weeks before the midterm elections.
The administration of President Donald Trump is considering a 90-day ban on diesel exports, which would theoretically allow larger volumes to be retained in the United States in an effort to contain prices.
Simultaneous shocks hit fuel markets
Fuel markets have faced a series of simultaneous shocks in recent months, including declining energy flows through the Strait of Hormuz and the Bab el-Mandeb, damage to refineries in the Middle East, and Ukrainian attacks on Russian refineries.
China imposed successive restrictions on refined petroleum product exports, while Japan and South Korea cut some shipments, adding to pressure on fuel supplies.
