Fuel Price Rally: Unleaded to Exceed €2 Per Liter

Fuel price rally: The price of unleaded gasoline is expected to exceed €2 per liter by the end of the week if the Brent price continues to rise.

International oil markets are in a state of high nervousness, with large fluctuations and increased concerns about the supply outlook. Increases in refined products are expected to quickly pass through to retail prices.

According to market estimates, unleaded is expected to increase by up to 40 cents per liter and diesel by up to 60 cents per liter by Tuesday or Wednesday. If current prices are maintained, the price of unleaded is expected to reach €2 per liter by Friday.

Currently, the average price of gasoline exceeds €1.8 per liter, while diesel is moving above €1.75 and heating oil exceeds €1.4 per liter. These price levels are reminiscent of the energy crisis period.

Eurozone finance ministers are seeking ways to address energy uncertainty caused by developments in the Middle East at the Eurogroup meeting in Brussels.

At the same time, discussions are intensifying on coordinated interventions in the oil market. G7 finance ministers will discuss the possibility of a coordinated release of oil from strategic reserves, in cooperation with the International Energy Agency (IEA).