European motorists are facing a renewed spike in fuel costs as a crisis in international refining capacity tightens supply and pushes prices toward the €2 mark for both gasoline and diesel.
The surge is being driven by upstream structural constraints rather than downstream pricing power, according to industry representatives.
In Portugal, the association of fuel and lubricant companies (EPCOL) stated that the problem does not lie with sales margins.
Instead, the association pointed to a crisis in international refineries as the primary pressure point driving prices higher.
This aligns with broader trends across the continent, where supply-side friction is translating directly into pump prices.
The repricing is already evident in key markets.