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Economy

EU fuel prices hit records: ECB experts say diesel margins yet to peak

EU petrol and diesel prices hit record highs this week, according to the European Commission. Refining margins—the cost of turning crude oil into fuel—are partly to blame, and prices could remain elevated as ECB experts tell Euronews that diesel margins are expected to peak only in October.

Europe in Motion

How are Europeans coping with energy and fuel bills?

The rising cost of fuel and energy bills is hammering Europeans, with some taking extreme measures to offset higher prices, such as giving up on medical care. However, not all of them are affected equally.

Economy

Why is fuel expensive when crude oil hasn't hit record highs?

Pump prices could remain high in Europe, adding to inflationary pressure. The immediate problem is not just the supply or price of crude oil, but limited refining capacity, disrupted trade flows and shortages of finished fuels, particularly diesel.

Europe News

Spain wins EU backing for temporary fuel-tax cuts

Spain has joined the EU's fuel tax relief club, but also secured exceptional permission to breach the bloc's normal tax floor under the bloc's energy taxation rules.

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Europe in Motion

Which countries are most exposed to Hormuz crisis fuel price swings?

After a brief reprieve in the wake of a ceasefire deal between the US and Iran, the crisis in the Strait of Hormuz has sent oil prices spiralling again. Europe in Motion breaks down the European countries with the most significant fluctuations.

Europe News

French fishermen gather in Cherbourg as sector faces challenges

In total, the French government said €13 million would be dedicated to the fishing sector for fuel consumption in April and May.

Economy

US inflation reaches 4.2%, clouding Fed rate-cut outlook

Annual inflation accelerated to 4.2% in May, driven largely by higher fuel costs, as rising prices continue to weigh on household budgets and cloud the Federal Reserve's interest-rate outlook.

The Big Question

The Big Question: What happens if Europe runs short of truck drivers?

Despite rising fuel costs and mass shortages of drivers, Lyall Cresswell, CEO of the Transport Exchange Group is still confident that “there's a lot more efficiency [to] eke out of the market”.

Europe in Motion

Iran war: How have some airlines managed to cut flight prices?

While Europe-Asia airfares soar, budget airlines slash or keep prices low to tempt people back into travel amid weak demand and higher operational costs. How can they do it and how long will it last?

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Teargas fired as protests erupt over rising fuel prices in Kenya

Police fired teargas at protesters in Nairobi as demonstrations broke out during a nationwide transport strike over soaring fuel prices and rising living costs.

Business

Ryanair profits surge 40% to record €2.26 billion despite fuel crisis

Europe’s largest low-cost airline posted record annual profits as rising fares and sustained travel demand helped offset aircraft delivery delays and mounting uncertainty in global fuel markets due to the Iran war.

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French farmers dump manure at TotalEnergies refinery in fuel price protest

French farmers have staged a protest outside a major oil refinery near Lyon, dumping manure and rubbish at the entrance in anger over rising fuel costs and falling incomes.

Europe News

Airlines cannot add fuel surcharges after ticket sales, EU says

As fuel prices soar amid the Middle East crisis, Brussels warns airlines they cannot retroactively hike ticket prices — and says costly kerosene alone is no excuse for dodging passenger compensation.

Economy

Energy prices drive up inflation in Germany, Spain before ECB decision

Inflation rose in both Germany and Spain in April, driven mainly by higher energy costs linked to global geopolitical tensions, keeping eurozone price growth above the European Central Bank’s 2% target.

Economy

Fuel prices in Europe: Before Iran war versus after the ceasefire

Fuel prices in Europe rose rapidly following the US–Israel strike on Iran and peaked shortly afterwards. While prices declined moderately after the ceasefire, both diesel and petrol remain notably higher than pre-strike levels.

Europe in Motion

Where have fuel prices been rising the most since the Iran war?

Europe is feeling the pinch after the blockage of the Strait of Hormuz, with stark differences between countries.

Europe News

Euroviews. Opinion: Europe is subsidising its way into a deeper energy crisis

Energy crisis: Governments should replace blanket tax cuts and price caps with direct income transfers for vulnerable households, liquidity support and non-earmarked tax credits for exposed sectors, writes Judith Arnal, State Economist in Spain, in an opinion piece for Euronews.

Economy

Petrol and diesel in Europe: Where are prices highest and lowest?

Petrol and diesel prices have risen significantly across Europe since the escalation of the Middle East crisis. Euronews Business takes a closer look at the latest fuel prices.

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Construction workers block roads in France over soaring fuel prices

Construction workers set up a roadblock on the Nantes ring road to protest rising fuel costs, saying the sharp increase is putting pressure on their businesses.

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Fuel shortages spark long queues at petrol stations in Johannesburg

Motorists lined up at petrol stations in Johannesburg as fuel shortages and supply limits caused disruptions and raised concerns over rising costs.