EU Records 12.9 Percent Surge in Fuel Costs

(MENAFN) European Union fuel and lubricant prices for personal vehicles surged 12.9% in March 2026 on an annual basis, marking a dramatic reversal after months of easing costs, according to figures published Tuesday by Eurostat, the bloc's official statistical authority.

The sudden spike breaks from a sustained downward pricing trend that had held across most EU member states through February 2026.

Germany led all member states with the steepest year-on-year climb at 19.8%, with Romania close behind at 19.6% and the Netherlands registering an 18.8% increase. Latvia and Austria also posted significant annual gains of 18.5% and 17.2%, respectively.

Not all economies felt the pressure equally. Hungary bucked the regional trend with a 2.7% annual price decline, while Slovenia recorded the steepest drop at 5.9% below March 2025 levels.

Diesel bore the brunt of the annual surge, jumping 19.8% across the bloc year-on-year, while petrol prices rose a comparatively moderate 9.4% over the same period.

Month-on-month figures told a similarly sharp story. Diesel costs climbed 19.1% from February 2026, and petrol prices rose 10.6% over the same interval.

Czechia and Sweden recorded the most severe monthly diesel increases, each reporting a 27.6% rise. Estonia followed at 26.8%, while Latvia, Belgium, and the Netherlands all posted monthly diesel hikes exceeding 25%.

Petrol increases were widespread but uneven. Belgium led with a 15.1% monthly rise, trailed closely by Sweden at 15%. Growth was far more restrained in Slovenia at 2.4%, Slovakia at 3.8%, and Hungary at 4.7%.

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