Higher Fuel Prices Cost EU €53 Billion: Report
BRUSSELS, (UrduPoint / Pakistan Point News / WAM - 24th Sep, 2026) Higher road fuel prices have cost the European Union an estimated €53 billion amid geopolitical disruption, adding an average of €270 million a day to transport costs, according to a report by Transport & Environment (T&E).
Impact of Fuel Prices
- Diesel: €40 billion of the additional cost.
- Consumption: Road transport accounted for 77% of total diesel and gasoil consumption in the EU in 2024.
- Average Cost per Driver: T&E estimates that the average EU diesel car driver paid about €142 more over the period studied than in the comparable period last year.
Causes
The report attributes these high costs to:
- The conflict in the middle East.
- Outages at Russian refineries, widening the gap between already high crude prices and refined products, particularly diesel.
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