EU fuel prices jump 12.9% in March amid tensions in Middle East

Fuel and lubricant prices for personal transport in the EU surged 12.9% in March 2026 compared with the same month last year, according to data released Tuesday.

The official statistics office Eurostat reported that the sharp rise follows a general downward trend in prices observed until February 2026 across most member states.

Germany recorded the highest annual price jump at 19.8%, followed closely by Romania at 19.6% and the Netherlands at 18.8%.

Latvia and Austria also saw substantial annual increases of 18.5% and 17.2%, respectively.

In contrast, prices in Hungary fell 2.7% and Slovenia saw a 5.9% decrease compared with March 2025.

Diesel prices across the bloc rose 19.8% year-on-year, while petrol prices increased 9.4% during the same period.

On a monthly basis, diesel costs for consumers climbed 19.1% and petrol prices rose 10.6% compared with February 2026.

The highest monthly diesel price hikes were registered in Czechia and Sweden, both reporting a 27.6% increase.

Estonia followed with a 26.8% monthly rise, while Latvia, Belgium, and the Netherlands all saw increases exceeding 25%.

Petrol prices also rose across all EU nations, with Belgium seeing a 15.1% monthly increase and Sweden recording 15%.

Monthly petrol price growth was more moderate in Slovenia at 2.4%, Slovakia at 3.8%, and Hungary at 4.7%.