{
  "id": 8387892,
  "title": "EU fuel prices hit records as ECB experts see diesel margins peak in October",
  "url": "https://urgent.news/2026/09/19/eu-fuel-prices-hit-records-as-ecb-experts-see-diesel-margins-peak-in",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-19T05:00:17.000Z",
  "source": {
    "name": "Euronews",
    "slug": "euronews",
    "url": "https://www.euronews.com/business/2026/09/19/eu-fuel-prices-hit-records-as-ecb-experts-see-diesel-margins-peak-in-october"
  },
  "original_language": "en",
  "account": "The European Union has seen record-high fuel prices, according to data from the past two decades. An average 50-litre car fill-up now costs around €103 for petrol and €108 for diesel. Since the conflict in the Middle East began, fuel prices have soared due to disruptive energy flows through the Strait of Hormuz. Eurozone energy inflation reached 14.3% in August, up from 10.3% in July, according to the European Central Bank.\n\nAs of September 14, the weighted EU average price for petrol was €2.063 per litre, while diesel reached €2.159 per litre, both the highest readings in the Commission’s series since 2005. Malta had the cheapest petrol at €1.34 per litre, while Denmark faced the most expensive at €2.56. Diesel prices ranged from €1.21 per litre in Malta to €2.51 in Finland.\n\nFactors contributing to the high fuel prices include international crude prices, rising refining costs, and margins. While petrol margin peaked earlier, diesel margins are expected to hit their highest point in October. From January 2026, EU petrol prices have increased by about 29%, and diesel by almost 40%.\n\nGlobal crude oil prices have surged above $126 per barrel due to the conflict with Iran, impacting energy flows. European crude supplies might face further disruptions after Saudi Aramco informed European refiners they wouldn't receive oil under long-term contracts in October following an attack on their Red Sea pipeline.\n\nECB experts believe that if the conflict ends and energy flows resume, prices would decrease quickly. However, disruptions to Russian refining could keep margins elevated even if the Middle East conflict were resolved.",
  "summary": "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.",
  "key_points": [
    "EU fuel prices hit records, averaging €103 for petrol and €108 for diesel",
    "Diesel margins expected to peak in October, up almost 40% since January 2026",
    "ECB experts predict quick price drops if conflict ends and energy flows resume"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}