Diesel Price Shock Looms in Croatia Amid Global Energy Crisis
Croatian motorists are bracing for a potential record diesel price of €1.95 per liter, which could be triggered by a global energy crisis. The crisis has been fueled by the ongoing conflict between the United States and Iran, as well as disruptions to oil routes through the Strait of Hormuz.
The effects of this crisis are being felt worldwide, with diesel prices soaring above $100 a barrel in some regions. In the US, diesel has reached an average price of $6.29 per gallon, a 68% increase from last year. The Iran conflict and attacks on Russian refining infrastructure have contributed to the global supply squeeze.
Croatia has so far used government measures and domestic refining capacity to keep fuel prices below those in other European countries. However, with international diesel prices climbing above $1,600 per tonne, the country's new pump prices are set to be determined by the Government.