Fuel Prices in Europe Surge After US–Israel Strike on Iran, Then Moderately Decline
- European fuel prices remain significantly higher than before the US-Israel strike on Iran in late February 2026, despite a fragile ceasefire holding since early April, according to an...
- The average price for petrol (Euro-super 95) across the European Union rose from €1.64 to €1.83 per litre between 23 February and 20 April 2026, representing a 12%...
- Belgium, Czechia, and Bulgaria experienced the largest increases in petrol prices, each recording a 22% rise.
European fuel prices remain significantly higher than before the US-Israel strike on Iran in late February 2026, despite a fragile ceasefire holding since early April, according to an analysis by Euronews Business based on the European Commission’s Weekly Oil Bulletin.
The average price for petrol (Euro-super 95) across the European Union rose from €1.64 to €1.83 per litre between 23 February and 20 April 2026, representing a 12% increase. Diesel prices saw an even sharper rise, with the EU average for gas oil increasing from €1.59 to €2.00 per litre over the same period.
Countries with the Steepest Fuel Price Increases
Belgium, Czechia, and Bulgaria experienced the largest increases in petrol prices, each recording a 22% rise. Among the EU’s four largest economies, France had the highest increase at 18%, followed by Germany at 15%. Italy and Spain saw more modest rises of 7% and 3% respectively, while petrol prices in Malta remained unchanged.
Other countries with notable increases included Greece at 17%, Finland and Denmark both at 14%, Hungary at 13%, the Netherlands at 11%, and Ireland at 10%. These figures are based on euro values, meaning exchange rate fluctuations may have influenced results in non-euro area countries.
Context of the Price Surge
The United States and Israel launched a series of strikes against Iran on 28 February 2026. Tehran responded with retaliatory attacks across the region. Washington and Tehran agreed to a ceasefire on 8 April 2026, though it remains fragile. Fuel prices surged globally, including in Europe, following the strikes and peaked shortly afterwards before declining moderately after the ceasefire took effect.
Despite the decline after the ceasefire, both diesel and petrol prices remain notably higher than pre-strike levels across much of the continent. The analysis compares prices on 23 February 2026 (before the strikes) and 20 April 2026 (after the ceasefire had been in place for over a week).