EU Fuel Prices Reach Record Highs as Diesel Margins Climb
Average petrol costs hit €2.063 per litre, marking the highest level in the European Commission’s data series since 2005.
Petrol prices in the European Union reached €2.063 per litre on average. Diesel costs stood at €2.159 per litre. Both figures represent the highest levels recorded since the Commission began tracking data in 2005. Filling a standard 50-litre tank now costs approximately €103 for petrol and €108 for diesel. These prices reflect a weighted EU average as of 14 September.
The surge follows the outbreak of conflict in the Middle East. Energy flows through the Strait of Hormuz were disrupted starting in late February. Brent crude prices exceeded $126 per barrel during the peak of the conflict. Prices remained above $104 per barrel on Friday. This is a significant increase from the pre-war level of $72 per barrel.
Refining margins drive diesel costs
Crude oil is not the only factor increasing pump prices. Refining margins have also risen sharply. European Central Bank experts indicated that diesel margins are expected to peak in October. Petrol margins already peaked in August. This data is based on refined futures reported by LSEG on 16 September.
Saudi Aramco has informed at least two European refiners about supply cuts. The company stated that no oil will be delivered under long-term contracts in October. This decision follows an attack on a key pipeline to the Red Sea. Bloomberg reported that this applies to all European buyers.
Inflation accelerates in the eurozone
Energy inflation in the eurozone rose to 14.3% in August. This is up from 10.3% in July, according to the ECB. The rise in fuel prices adds to broader inflationary pressures. Crude oil accounts for less than a quarter of the final pump price. The remainder includes refining, distribution, and taxes.
Excise duties and VAT make up a large portion of the cost. These taxes represent around 44% of the diesel price. They account for 52% of the petrol price. Governments can temporarily reduce the impact through duty cuts. However, the structural rise in margins continues to affect consumers.
Price gaps exist across member states
Retail prices vary significantly by country. Petrol was cheapest in Malta at €1.34 per litre. It was most expensive in Denmark at €2.56 per litre. Diesel ranged from €1.21 per litre in Malta to €2.51 per litre in Finland. These differences are driven by national tax policies and local refining costs.
The European Commission published these figures in its latest Weekly Oil Bulletin. The report used prices reported for 14 September. Since the beginning of 2026, the weighted EU average petrol price has risen by about 29%. Diesel prices have surged by almost 40%. The data confirms that filling a car has never cost more on average across the EU.
