EU Fuel Prices Surge in March as Diesel Jumps Over 19%

Fuel prices across the European Union surged sharply in March, with diesel and gasoline recording significant month-on-month increases, according to data released by Eurostat.

Data published on April 21 showed that EU diesel prices rose by more than 19% compared with February, while gasoline prices increased by over 10% during the same period.

On a yearly basis, prices for fuels and lubricants climbed 12.9% in March. Among the EU's 27 member states, all but Hungary and Slovenia recorded year-on-year increases in fuel and lubricant prices.

Germany posted the steepest annual rise, with fuel and lubricant prices up 19.8%, followed closely by Romania at 19.6%, the Netherlands at 18.8%, and Latvia at 18.5%.

A breakdown of fuel categories showed diesel prices rising 19.8% year-on-year and 19.1% month-on-month in March. Gasoline prices increased 9.4% from a year earlier and 10.6% compared with February.

Across member states, diesel and gasoline prices rose month-on-month in all countries. The Czech Republic and Sweden recorded the sharpest increases in diesel prices, both up 27.6%, followed by Estonia (26.8%), Latvia (25.4%), Belgium (25.2%), and the Netherlands (25.1%).

At the lower end, Slovenia posted the smallest monthly increase in diesel prices at 2.9%, followed by Slovakia and Hungary, both at 7%.

For gasoline, Belgium saw the largest month-on-month increase at 15.1%, followed by Sweden (15%), Austria (14.8%), and the Czech Republic (14.6%). Slovenia again recorded the smallest rise at 2.4%, with Slovakia (3.8%), Hungary (4.7%), and Italy (4.8%) also among the lowest increases.

The data, released on April 21, highlight broad-based upward pressure on fuel costs across the bloc, with increases recorded in nearly all member states both on a monthly and annual basis.