New record level reached for diesel prices in Belgium
Fuel price caps have risen in Belgium as a result of supply disruptions in the Middle East and increasing costs.
The price per liter of diesel fuel in Belgium rose to 2.501 euros, reaching an all-time high and breaking a new record.
New record in diesel prices
The price per liter of diesel B7 in Belgium increased by 3.3 cents to 2.501 euros, surpassing the previous record.
Ministry announces price caps
Within the scope of daily price caps set by the Belgian Ministry of Economy, the maximum price per liter for B10 diesel, which contains up to 10 percent biodiesel, also rose to 2.493 euros.
Fuel stations in the country do not have the right to sell above these officially determined price caps by the Ministry of Economy.
Heating diesel tariffs
In line with the regulations, the price of heating diesel was determined as 1.6217 euros for orders under 2,000 liters.
For higher quantities of heating diesel orders, the price per liter is applied at 1.5812 euros.
Reflections of global crises
Transportation issues in the Straits of Hormuz and Bab el-Mandeb, along with attacks targeting energy infrastructure, played a significant role in this sharp increase in diesel prices.
Damage to Saudi Arabia's East-West Pipeline, used for oil shipments, caused the barrel price of Brent crude to exceed 100 dollars.
Exports and futures
Diesel exports from the Middle East halved in the March-August period compared to the same period last year, dropping to 800,000 barrels per day.
Following these developments, it was noted that diesel futures prices in Europe have more than doubled since the beginning of the year.