Diesel prices at European pumps are returning to the "€2 and above" territory, driven by a sharp rebound in wholesale costs that has outpaced the recovery in crude oil.
The wholesale price for a ton of diesel in Europe is now nearly 40% higher than the summer low reached in June, signaling a rapid tightening in the distillate market.
While Brent crude has retreated from recent peaks, diesel is appreciating faster, reflecting persistent supply constraints and strong demand.
This divergence suggests that refiners are passing through higher input costs and risk premiums directly to end consumers, with retail prices in several countries already reflecting the shift.
The upward pressure is evident across the continent.
In Belgium, the maximum regulated price for diesel is set to rise by 8.5 cents per liter to €2.23, according to the Federal Public Service Economy.