"The price of diesel fuel has rocketed by more than 30 percent across Europe since the start of the Middle East war highlighting the continent's dependence on imported energy and the lingering prominence of diesel on the car market."
"Experts say its cost will rise further -- with a knock-on effect on inflation -- as long as trade through the Strait of Hormuz remains blocked."
"Diesel accounted for 86 percent of transport fuel sales in Latvia in 2024, 73 percent in France and 66 percent in Germany, according to FuelsEurope."
"The international supply-and-demand balance for diesel was much tighter than the gasoline balance going into the war and the subsequent market response has been one of strong gasoil price escalation."
Since the start of the Middle East war, diesel fuel prices in Europe have increased by over 30%, revealing the continent's reliance on imported energy. The demand for diesel is expected to rise during the Easter holiday weekend, leading to long queues at petrol stations. Diesel prices have escalated significantly, with a per-barrel price exceeding $200. Diesel remains the dominant fuel in Europe, used extensively in transportation and agriculture. Experts predict further price increases and inflation as trade through the Strait of Hormuz remains disrupted.
Read at www.thelocal.com
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