German Economic Institute says Europe faces persistent high fuel prices

The German Economic Institute (DIW) says that despite a secure supply of crude oil and refined products such as gasoline and diesel, market tensions linked to the conflict in the Persian Gulf mean Europe should not expect a significant price drop in the short term. DIW economist Franziska Holz told dpa that "the supply of crude oil and refined products – including gasoline and diesel – is stable," but added that "the situation is more difficult for kerosene." Global oil availability is about 20 % below pre‑war levels, so international price spikes are felt by European consumers. Brent crude has hovered around the $100‑per‑barrel mark, briefly falling after a recent U.S.–Iran cease‑fire but remaining elevated. Holz urged reduced fuel consumption in Germany and across Europe.