Austria faces up to 1.1 billion euros in additional fuel surcharges

Austria is facing significant economic pressure due to rising fuel and energy costs linked to the US-Iran conflict. Calculations from the Momentum Institute indicate that fuel surcharges for gasoline and diesel in Austria have already totaled approximately 654 million euros in the 25 weeks since the conflict began. If current price levels persist, these additional surcharges could reach 1.1 billion euros by the end of the year.

Private vehicle owners have already borne roughly 228 million euros of these additional costs. The impact is particularly pronounced in diesel prices; while crude oil and taxes account for a portion of the increase, surcharges represent more than half of the total price rise. This has led to calls for an excess profits tax on mineral oil companies.

Separately, the Austria Energy Agency reports that energy imports are also becoming more expensive. Net additional costs for crude oil and diesel are estimated at 1.1 billion euros, while gas imports have increased in cost by approximately 500 million euros this year. These fluctuations are driven by volatility in Brent crude oil and the doubling of European gas prices (TTF) compared to pre-war levels.