An energy crisis reveals the hidden costs behind every litre.
Brussels, Belgium.
Fuel prices across the European Union have reached their highest levels on record, intensifying pressure on households, transport operators and businesses as the energy crisis continues to disrupt global markets. European Commission figures published on September 17 show that the average price of petrol reached €2.063 per litre, while diesel climbed to €2.159. Filling a 50-litre tank now costs approximately €103 for petrol and €108 for diesel. Both figures represent record highs in the Commission’s historical series, which began in 2005.
The increase reflects the economic consequences of the conflict in the Middle East and disruptions to energy shipments through the Strait of Hormuz. Brent crude, which traded near $72 per barrel before the conflict began in late February, exceeded $126 at its peak and remained above $104 on September 18. Supply concerns have intensified after Saudi Aramco reportedly informed European refiners that they would not receive certain contracted oil deliveries in October following an attack on a major pipeline. The resulting uncertainty has placed additional pressure on Europe’s energy supply network.
Yet crude oil prices explain only part of the increase. Refining margins, which represent the difference between crude oil costs and the market value of refined products, have become a substantial component of retail fuel prices. European Central Bank specialists told Euronews that diesel refining margins could reach their highest level in October, based on futures market data recorded on September 16. Petrol margins, by contrast, appear to have peaked in August, illustrating how different petroleum products respond to supply constraints.
The economic impact is already measurable. Since the beginning of 2026, average petrol prices across the European Union have increased by approximately 29%, while diesel has become nearly 40% more expensive. Energy inflation in the eurozone accelerated from 10.3% in July to 14.3% in August, according to the European Central Bank. The increase in diesel prices is particularly consequential because freight transportation, agriculture and industrial logistics depend heavily on the fuel, creating potential cost pressures throughout supply chains.
Price differences among member states remain substantial. Petrol costs €1.34 per litre in Malta compared with €2.56 in Denmark, while diesel ranges from €1.21 in Malta to €2.51 in Finland. These variations reflect differences in national taxation, distribution systems and market conditions. ECB estimates indicate that refining margins contributed approximately €0.41 per litre to eurozone diesel prices during the third week of September, compared with €0.17 for petrol.
The outlook remains uncertain. ECB specialists consider the normalization of energy flows through the Strait of Hormuz and the recovery of global refining capacity essential conditions for reducing prices. However, disruptions affecting Russian refining infrastructure could keep margins elevated even if hostilities in the Middle East subside. Futures-based expectations of an October peak are market projections, not a guarantee that retail diesel prices will immediately decline.
Europe’s record fuel prices expose a structural vulnerability extending beyond crude oil dependence. Refining capacity, maritime security, taxation and distribution networks collectively determine what consumers ultimately pay. Until these pressures ease, higher energy costs may continue affecting purchasing power, industrial competitiveness and inflation.
Detrás de cada dato, la intención. / Behind every data point, the intention.