Brussels: Fuel prices continued to rise Thursday in Europe as oil prices climbed above $100 amid the escalating war in the Middle East, putting pressure on motorists and prompting governments to extend or consider measures to cushion the effect.
According to Anadolu Agency, Brent crude settled at $101.21 a barrel Wednesday, its highest close since May, as attacks involving Iran and the US disrupted shipping and raised concerns about oil supplies through the Strait of Hormuz. The European Commission's latest Weekly Oil Bulletin, published Thursday, provides the latest weekly comparison of petroleum prices in the EU, while national data show further increases at filling stations in several major European markets.
In Italy, petrol prices have reached about pound 2.05 ($2.39) per liter, while diesel is around pound 2.17, according to the data. The Italian government had extended a temporary 17-cent reduction in diesel excise duties through Thursday to contain the effect of rising fuel costs. The measure, which has been extended several times since March, is expected to give way to more targeted support for lower-income households and road transport operators.
France also recorded increases. The average price of diesel stood at about pound 2.30 per liter, while E10 petrol was around pound 2.13, according to data based on French government fuel-price reports. Diesel prices rose by about 5.3 cents during the previous week, while E10 petrol increased by about 4.1 cents.
In Germany, the average price of E10 petrol was about pound 2.24, while Super petrol and diesel were around pound 2.30, according to an analysis by public broadcaster SWR, based on prices at 15,000 filling stations. The Netherlands remains among Europe's most expensive fuel markets. Average E10 petrol was about pound 2.42, with diesel about pound 2.49, according to Dutch fuel-price data.
Belgium's average prices were lower, at about pound 1.99 for petrol. It was pound 2.29 for diesel. In Czechia, petrol was averaging about pound 1.76 and diesel about pound 1.90, according to the latest European fuel-price data.
The UK has also seen a sharp weekly increase. Average petrol stood at about 167.9 pence ($2.27), up 4.6 pence in seven days. Diesel hit 189.4 pence, up 4.5 pence, according to data based on the government's Fuel Finder system. Switzerland recorded average petrol prices of about CHF2.00 ($2.52) and diesel prices of CHF2.24, with prices continuing to rise from the previous week.
Fuel prices have also increased in the Baltic states. Lithuania's average petrol price was about pound 1.82, while diesel stood at around pound 2. Latvia recorded petrol prices of about pound 1.79 and diesel prices of pound 1.96. Estonia's latest European Commission benchmark put petrol at about pound 1.81 per liter and diesel at pound 1.92.
Denmark remains one of the most expensive EU markets for petrol at about pound 2.37 per liter. Diesel was around pound 2.47. Sweden remains among the cheapest EU markets. The latest European Commission benchmark put petrol at about pound 1.47 and diesel at pound 1.73. Finland was also among the more expensive markets, with the European Commission's latest benchmark putting petrol at about pound 2.20. It is costing diesel at pound 2.33.
The latest price increases come as Brent crude has risen above $100 a barrel, with the conflict in the Middle East and disruptions to oil shipping raising concerns about inflation and household costs in Europe. The European Central Bank raised its policy interest rate to 2.50% Wednesday, citing renewed inflationary pressure linked in part to the energy shock. The ECB raised its 2026 inflation forecast to 3%, underscoring the potential effect of higher energy costs on the euro area economy.