EU Diesel Price Hits Record €2.24 Per Litre Amid Supply Disruptions

EU Diesel Price Hits Record €2.24 Per Litre Amid Supply Disruptions

The average price of diesel at the pump across the European Union has reached a record €2.24 per litre, according to European Commission data released on Thursday. The latest figure compares with around €1.59 per litre before the war in the Middle East began.

Twelve EU member states have recorded new all-time highs, including Belgium, Italy, Romania and Poland, highlighting the broad impact of the energy supply shock.

The surge has been driven by disruptions to oil and refined-fuel supplies linked to the war in the Middle East, including reduced flows through the Strait of Hormuz, while the war in Ukraine has also affected refining and fuel exports.

Europe is particularly exposed because the bloc relies heavily on imported diesel for road transport, agriculture and industry. Refining capacity and fuel inventories have also come under pressure, contributing to elevated diesel margins and pump prices.

The price surge is adding to inflationary pressure across Europe and raising costs for freight, farming and other sectors that depend heavily on diesel.

European authorities are considering measures to ease the supply crunch. The European Commission, France, Italy, Ireland and the United Kingdom have discussed the possible release of emergency diesel reserves as governments seek to stabilize fuel markets.

Energy officials and market analysts warn that prices could remain elevated if disruptions to oil flows and refining capacity continue, while a normalization of regional energy supplies could help ease pressure on consumers.