Fuel Prices Surge Across Europe: What’s Driving the Increase?
Motorists across Europe are feeling the pinch at the pump as fuel prices continue to climb. Lithuania is no exception, with diesel prices experiencing a particularly sharp increase. The situation is fueled by escalating tensions in the Middle East and a corresponding rise in global oil prices, but the picture is complex, with regional variations and differing impacts on gasoline versus diesel.
Diesel vs. Gasoline: A Widening Gap
The price difference between diesel and gasoline is growing. Currently, the gap in Lithuania stands at 0.17 EUR/l – the largest it has been since the beginning of 2023. This disparity is largely due to Europe’s greater reliance on Middle Eastern sources for diesel compared to gasoline, which is more readily sourced from Russia.
Recent Price Fluctuations: A Week in Review
Over the past week (February 23rd – March 1st), the average price of Brent crude oil rose to 71.3 USD/bbl, a 1.9% increase from the previous week. However, this remains 3% lower than the same period last year (February 24th – March 2nd, 2025), when the average was 73.5 USD/bbl. More recently, events in the Middle East have pushed prices higher, reaching 77.8 USD/bbl on March 2nd, and 81.4 USD/bbl on both March 3rd and 4th. This hasn’t been seen since mid-January 2025.
In Lithuania, wholesale gasoline prices increased by 4.6% (0.06 EUR/l) between March 4th and February 27th. Diesel saw an even more significant jump, rising 15.4% (0.23 EUR/l) over the same period. As of March 2nd, the average gasoline price in Lithuania was 1.47 EUR/l, while diesel averaged 1.64 EUR/l.
Regional Variations Across the EU
The price increases aren’t limited to Lithuania. Across the European Union, both gasoline and diesel prices have risen. Gasoline prices increased by an average of 1.7%, and diesel by 2.2% across the EU. However, prices vary significantly by country.
Compared to the EU average, gasoline in Lithuania is currently 11.6% cheaper, while diesel is 0.7% more expensive. Poland offers the lowest gasoline prices in the region at 1.37 EUR/l, 0.10 EUR/l less than Lithuania. For diesel, Poland again leads with a price of 1.43 EUR/l, 0.21 EUR/l cheaper than Lithuania.
Eight EU countries currently have lower average gasoline prices than Lithuania, while eighteen have lower diesel prices. The highest gasoline prices are found in the Netherlands, Denmark, and Finland (1.93–2.07 EUR/l), while Malta, Cyprus, and Bulgaria have the lowest (1.23–1.34 EUR/l).
Looking Back: A Year-Over-Year Comparison
Over the past 12 months, gasoline prices have decreased in most of the compared countries (Lithuania, Latvia, Poland, and Germany) by 1.1–11.5%, with the exception of Germany, where prices have increased by 5.4%. Diesel prices have fallen in Estonia, Latvia, and Poland (2.0–8.9%), but have risen in Lithuania (2.8%) and Germany (8.6%).
Supply Chain Insights: Where Does the Oil Approach From?
Lithuania’s oil supply sources have shifted slightly in recent months. In January 2026, crude oil was imported from Saudi Arabia, Norway, the United Kingdom, and Algeria. In February, the sources narrowed to Saudi Arabia, Norway, and the United Kingdom. At the beginning of March, imports came from Saudi Arabia and Algeria.
FAQ
Q: Why is diesel more expensive than gasoline right now?
A: Europe relies more heavily on Middle Eastern sources for diesel, and the current instability in that region is driving up diesel prices more significantly.
Q: How much have fuel prices increased in Lithuania recently?
A: Wholesale gasoline prices have risen by 4.6% and diesel by 15.4% between March 4th and February 27th.
Q: Is Lithuania’s fuel price higher or lower than the EU average?
A: Gasoline in Lithuania is cheaper than the EU average, while diesel is slightly more expensive.
What are your thoughts on the rising fuel costs? Share your experiences and tips in the comments below!
