Fuel prices rise across Southeast Europe amid oil market volatility

Fuel prices across several Balkan and Central European countries are expected to rise significantly due to volatility in the global oil market. In Croatia and Montenegro, diesel prices are projected to increase by approximately 14 to 15 cents per liter, potentially pushing the price of eurodiesel toward the two-euro mark. Gasoline and heating oil are also expected to see price hikes.

In Slovenia, diesel could reach a new record of approximately 1.95 euros per liter if government intervention does not occur. This upward trend is driven by rising Brent crude prices and supply pressures in the middle distillate market. Factors contributing to the shortage include Russian export restrictions on diesel following attacks on refineries and ongoing supply disruptions in the Middle East.

In Montenegro, the government is considering reducing excise duties on heating oil to mitigate the impact on citizens and the agricultural sector. The price surge is linked to geopolitical tensions between the United States and Iran, which have raised concerns regarding the security of supply through the Strait of Hormuz.