9/4/2023 0 Comments Gas buddy map![]() There is a great demand for fuel in Europe, which means that any changes in the supply can mean significant changes in price.Īnother element that impacts oil and natural gas prices is seasonal demand. This is why you can expect to see a similar increase at the gas pump about six weeks after oil prices rise.Īs with all other commodities, gas and oil prices are affected by supply and demand. The remaining 28 percent comes from distribution, refining, and taxation. This is because oil costs account for 72 percent of the price of gasoline. It’s helpful to know that high gas prices are caused by high crude oil prices. Changing politics as well as supply and demand fluctuations all have an impact on the cost of fuel. There are several reasons the gas price in Europe is rising. ![]() Why Gasoline prices increased so much? Petrol prices in Europe are on the rise. Source: European CommissionĪs you can see in this table, no country currently offers Euro-super 95 at a price of less than €1.30/liter (Bulgaria), and gas is most expensive in Denmark (€1.98). Consumer prices for petroleum products in EU countriesīelow is a table describing the petrol price per liter in each EU country: CountryĮuro-super 95 Prices in EU Countries on 1st May 2023. ![]() Malta, whose petrol prices are the same as they were at this time last year, is the only country whose price per liter has not increased. The price of petrol is significantly higher in almost every European country than it was one year ago.
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