Diesel price in Belgium reaches all-time high of 2.501 euros per liter
With the new maximum prices announced by the Ministry of Economy, diesel fuel has broken a historical record in Belgium.
In line with the new maximum prices announced by the Belgian Ministry of Economy, the price per liter of diesel (B7) in the country rose by 3.3 cents to 2.501 euros, seeing the highest level of all time.
New Maximum Prices in Belgium
The Belgian Ministry of Economy officially announced to the public the new maximum fuel prices that will be valid in the country as of September 22.
Historical Record in Diesel Price
The price per liter of the diesel (B7) type reached 2.501 euros with an increase of 3.3 cents, leaving behind the previous record of 2.489 euros recorded on April 9.
Biodiesel and Heating Fuels
The maximum price per liter of B10 diesel, which contains up to 10 percent biodiesel, increased by 3.4 cents to 2.493 euros. The price per liter of heating diesel varied depending on the order quantity.
Applied Maximum Price System
Within the framework of the maximum price policy applied in Belgium, the Ministry of Economy determines the maximum prices, and gas stations cannot exceed these limits.
Effects in Global Oil Markets
Transportation problems in the Straits of Hormuz and Bab el-Mandeb, along with attacks on pipelines, caused the barrel price of Brent crude to exceed 100 dollars.
Export and Futures Data
While diesel exports from the Middle East halved during the March-August period to an average of 800 thousand barrels per day, futures prices in Europe also showed a major increase.