Diesel Prices Hit New High Despite Crude Price Drop

European diesel prices hit a new high of €2.062 per litre at the end of July, despite an 11% drop in Brent crude to $89.79 a barrel over the same period.

This means road transport operators have yet to benefit from the recent fall in oil prices.

The International Road Transport Union (IRU) found that forecourt prices are still reflecting the sharp escalation in crude and refined-product costs seen in mid-July.

Several governments let fuel-support measures lapse just as pump prices climbed, with Italy being an exception for now. Its €0.14-a-litre excise reduction remains in place, though it is due to end on 6 August.