Diesel price reaches new record
Diesel prices will hit a new record on Tuesday, the Belgian Economy ministry reported on Monday.
Diesel (B7) will increase to 2.333 EUR per litre, up 17 cents. Petrol 95 (E10) will also rise, with a maximum price of 1.92 EUR per litre, an increase of 5.7 cents.
Heating oil (H0/H7) will increase by 3.5 cents, reaching 1.4347 EUR per litre for orders of at least 2,000 litres.
The increases are driven by fluctuations in international oil markets, linked to the Israeli-American offensive against Iran and Iran’s retaliatory actions in the Gulf.
Oil prices have now reached their highest level since the conflict began. A barrel of Brent crude stood at around 115 USD on Monday morning, compared with just over 70 USD at the end of February, an increase of more than 50 per cent.
US benchmark West Texas Intermediate also rose above 100 USD per barrel for the first time since the start of the conflict, reaching around 100.70 USD.
Ongoing uncertainty and fears of a prolonged escalation are continuing to drive prices higher. Iran has effectively blocked the Strait of Hormuz, a key route for global oil and liquefied natural gas supplies.
© BELGA PHOTO NICOLAS MAETERLINCK
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