Fuel Prices Explode After Middle East Unrest
Fuel prices have surged sharply following unrest in the Middle East, with gasoline and diesel becoming significantly more expensive since Tuesday and further increases expected in the coming days.
The recommended retail price for gasoline has risen by 3.3 cents per liter, while diesel has jumped by as much as 9.5 cents. The impact is already visible at fuel stations across the country, where motorists are facing noticeably higher costs at the pump.
Stations that already charge higher prices typically have larger profit margins, allowing them to delay immediate increases. In contrast, low-cost stations with tighter margins are adjusting their prices more quickly. At some of these stations, including those operated by wholesaler Makro, prices have climbed by as much as 7 cents since Monday.
Van Selms explained that the pricing system also played a role in the sudden spike. Recommended fuel prices are determined one business day in advance. This means that developments in the Middle East were only reflected in Monday’s pricing decisions, causing Tuesday’s sharp increase. Weekend and Monday prices had already been set the previous Friday, delaying the market reaction.
Most gas stations follow the oil companies’ recommended prices, although individual owners can adjust their rates independently. On Tuesday, the recommended price for gasoline stands at €2.32 per liter, while diesel is priced at €2.19. Experts warn that if instability in the Middle East continues, drivers should prepare for even higher fuel costs.