Diesel Prices in Europe, the USA, and Ukraine Rise Due to Middle East Crisis

Over the past month, diesel prices have increased in most European countries amid supply issues stemming from the situation in the Middle East. Romania saw the largest fuel price hike, while Poland reduced prices thanks to tax measures. In Ukraine, diesel rose by 6.8 UAH/l. Retail fuel prices have fully compensated for the decline in June. By the end of summer, fuel prices in some European countries reached their highest levels since the onset of the Hormuz crisis. Diesel quotes in Europe fluctuated around $1300 per ton, while the base Eurobob gasoline traded at around $1100 per ton. From July 24 to August 20, gasoline in Romania increased by 68 bani to 9.55 lei/l, and diesel rose by 53 bani to 10.23 lei/l. In Germany, gasoline prices went up by €0.05 to €2.19/l, while diesel increased by €0.10 to €2.29/l. In the UK, gasoline prices rose by 6 pence to £1.62 per liter, and diesel increased by 9 pence to £1.83 per liter. In France, the average price for 95-octane gasoline was €2.02/l, while diesel gained €0.07 to reach €2.23/l. In the USA, average retail diesel prices rose by $0.32 per gallon to $5.45, while gasoline increased to $4.82. In Poland, gasoline prices decreased by 1.07 PLN/l to 6.49 PLN/l, and diesel dropped by 34 groszy to 7.52 PLN/l. In Ukraine, over the past four weeks, diesel fuel has increased by 6.8 UAH/l to 92.06 UAH/l, while the price of A-95 gasoline remained virtually unchanged.

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