Business & Economy

European fuel prices highest since 2013 after Russia’s Ukraine invasion

Madrid, March 3 (EFE).- European fuel prices reached their highest levels since 2013 on Thursday, making it the fifth consecutive record this week as Russia’s invasion of Ukraine enters its eighth day.

According to data released Thursday by the European Commission’s Weekly Oil Bulletin, the price of diesel reached a maximum of 2.03 euros per liter in Norway, and gasoline reached a record 1.94 euros per liter in Finland.

Record fuel prices have been matched by soaring oil prices which have also reached unprecedented levels since 2013.

Oil prices could continue to climb after the OPEC cartel on Wednesday decided to maintain a moderate extraction rate, despite the crisis generated by Russia’s invasion of Ukraine.

In Spain, fuel prices have risen by 23 euros on 2021 levels.

According to the EU bulletin, the price of gasoline has increased by 36% since January 2021, and by 40% in the case of diesel.

The European Union imports 27% of its oil from Russia, according to Eurostat. EFE


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