Petrol and diesel slightly cheaper, but prices remain high
Gasoline and diesel prices have risen significantly since February due to the ongoing Iran-US conflict and the blockade of the Strait of Hormuz. Analysts expect these high costs to persist for several years, as supply chain disruptions also threaten the global availability of critical resources like fertilizer.
Fuel prices for gasoline and diesel remain at historically high levels following a significant surge that began in February. According to data from UnitedConsumers, the cost of gasoline has risen from 2.178 euro per liter at the start of the year to 2.705 euro, while diesel has increased from 1.897 euro to 2.703 euro. These elevated costs are attributed to the ongoing conflict between Iran and the United States, as well as the sustained blockade of the Strait of Hormuz, which has stalled hundreds of oil tankers and merchant ships. Experts suggest these prices will likely remain high through 2028, necessitating adjustments to global inflation projections. Further complicating the situation, the escalation of hostilities in the region, including attacks on infrastructure like the Saudi Aramco headquarters, has disrupted supply chains. Notably, the halted flow of fertilizer from the Gulf region has raised concerns about a potential future food crisis affecting farmers across Asia and Africa.
Based on reporting by nu. Translated and condensed by LocalHeadlines.
