Countries

European Countries With The Most Expensive Fuel

May 19, 2020

189

The first half of 2018 saw dramatic fluctuations in the prices of gasoline and diesel. Fuel prices have steadily increased; a situation that has been observed not only in Europe but worldwide. These fuel fluctuations result from variations in the world market and the erratic nature of exchange rates. Europe has particularly experienced significant price changes, with the Netherlands leading the list of countries with the most expensive fuel in Europe.

The most expensive fuel in Europe

Netherlands

Dutch motorists have faced increasing fuel prices. Between March and June, 2018, gasoline prices increased steadily to a maximum of 1.98 on May 28. A liter of gasoline sold at 1.94 in June, while diesel sold at a price of 25 per liter on the same day. The average price of gasoline at that time was $ 1.59 per liter. Petroleum product taxes explain the costly trips to fuel pumps across the country.

Italy

Fuel prices in Italy are high for both diesel and petrol. Gas pumps posted the highest price in June The 11th sold a liter of gasoline at 1.93 and diesel at 1.79. High taxation also influences fuel prices in Italy. However, these high fuel prices are also linked to the Italian love for vehicles. World Bank data shows the number of cars in the country at 682 for every 1,000 people. These statistics explain the high demand for fuel and the fact that Italy is one of the main manufacturers of vehicles with high fuel consumption does not help to counter demand.

Greece

Greece is among the top ten countries where fuel prices have been the highest in Europe for more than ten years. The highest price recorded in the first six months was 1.94 per liter of petrol and 1.67 per liter for diesel. The disparity in the cost of diesel and gasoline is linked to demand. Greece has a significantly higher demand for petrol than diesel. The taxation of petroleum products has made some Greeks unable to use their cars repeatedly.

Denmark

The Danish market saw fuel prices rise to a high of 1.92 per liter of gasoline and 1.70. The cost of living in Denmark is generally high and owning a vehicle is almost impossible, so there are not many motorists. The demand for gasoline is lower than that of other countries. This fact, combined with the high taxes levied on petroleum products, has forced petroleum companies to raise their prices to achieve their profit targets.

Comparative data

The UK has reported more favorable fuel prices than France, whose pump prices increased in the second quarter of 2018. Sweden, Portugal, Finland and Ireland rank first list of countries with high fuel prices, all with prices above $ 1.75. Some European countries use the taxes levied on fuel prices to reduce the environmental impact of petroleum products. Norway has been cited as intending to ban gasoline cars by the year 2025. The cost of fuel in Norway is therefore also very high.