European fuel prices have significantly escalated due to recent geopolitical tensions instigated by the US and Israel’s military actions against Iran. Despite a fragile ceasefire established on April 8, 2026, fuel prices remain approximately 12% higher than they were prior to these hostilities.
Impact of the Iran Conflict on Fuel Prices
The military strikes against Iran commenced on February 28, 2026. In response, Tehran launched retaliatory attacks, escalating tensions in the region. Consequently, European fuel prices soared, with the average petrol price jumping from €1.64 to €1.83 per litre, marking a 12% increase over the period leading to the ceasefire.
Fuel Price Changes Across Europe
- Belgium, Czechia, and Bulgaria: Each saw petrol prices rise by 22%.
- France: Recorded an 18% increase.
- Germany: Prices rose by 15%.
- Italy: Experienced a 7% rise.
- Spain: Saw a modest increase of 3%.
- Malta: No change in petrol prices.
- Greece: Increased by 17%, while Finland and Denmark rose by 14% each.
- Hungary: Up by 13%, with the Netherlands at 11% and Ireland at 10%.
Diesel Price Inflation
The situation was more severe for diesel prices, which surged by an average of 26%, rising from €1.59 to €2.01 per litre. Bulgaria reported the steepest climb at 43%.
- France: Diesel prices jumped by 36%.
- Estonia: Increased 35%.
- Belgium: Reported a 33% rise.
- Spain: Notably saw a 27% rise, above the EU average.
- Italy: Up by 24%, while Germany noted a 23% increase.
- Malta: No increase in diesel prices.
- Hungary and Romania: Both reported the lowest rises at 13%.
Current Fuel Prices in Europe
As of April 20, 2026, the Netherlands tops the list with the highest petrol prices in Europe at €2.28 per litre. Other high prices include:
- Denmark: €2.22
- Germany: €2.11
- Greece: €2.03
- France: €2.02
- Malta offers the lowest petrol price at €1.34.
Diesel Prices Overview
When it comes to diesel, the Netherlands again leads with prices at €2.30 per litre. The top five are as follows:
- Finland: €2.25
- France: €2.24
- Denmark: €2.22
- Belgium: €2.19
- Malta stands out with the lowest price at €1.21.
Fuel Price Trends and Consumer Impact
Since the onset of the conflict in early 2026, fuel prices have fluctuated significantly. They peaked in early April, with petrol prices nearing €1.90 and diesel exceeding €2.06. Following the ceasefire, prices have started to slightly decrease but remain markedly higher than pre-conflict levels.
This significant spike in fuel prices is compounded by the fact that taxes constitute a substantial component of fuel costs in Europe. In 2024, petrol vehicles comprised 67% of new car registrations, with diesel and electric vehicles making up 17% and 14%, respectively, according to Eurostat.
