A full tank of diesel now costs nearly €20 more in Luxembourg than it did just over two weeks ago, as rising tensions in the Middle East drive an unprecedented surge in fuel prices.
Since the start of the Israeli-US offensive in Iran on 28 February, prices at the pump have climbed sharply. The conflict is disrupting a key global shipping route, hindering the passage of oil tankers through the Strait of Hormuz and affecting many countries across the Middle East and the Gulf.
The most recent increase occurred overnight, with the price of diesel rising by a further 7.6 cents to reach €1.856 per litre as of Tuesday, 17 March. Both diesel and petrol are now at their highest levels this year. According to market data, diesel prices have not been this high in three years and four months, a record not seen since November 2022.
In the 17 days since the conflict began, the price of a litre of diesel has risen on five separate occasions, including a dramatic 21.1-cent jump overnight between 4 and 5 March. It has decreased only once, by 4.8 cents on 13 March.
In total, the price of diesel has increased by 39.1 cents per litre since 28 February. For consumers, the impact is severe: filling a standard 50-litre tank now costs €92.80, compared to just €73.25 before the conflict began – a difference of €19.55.
While less dramatic, petrol prices have also seen significant increases. Unleaded 95 has risen by 21.9 cents per litre over the same period. A 50-litre tank of Unleaded 95 now costs €85.10, up €10.95 from €74.15 on 28 February.
Unleaded 98 has seen a more moderate increase, rising by €8.10 for a 50-litre tank. Motorists now pay €88.95, compared to €80.85 in late February.
The sharp rise in fuel prices has not gone unnoticed in political circles. On 5 March, the day of the record 21.1-cent diesel hike, the Left Party (Déi Lénk) called for an urgent debate in the Chamber of Deputies. The party is seeking clarity on what measures the government plans to take to protect consumers’ purchasing power from the effects of the surge.
The topical questions session requested by the political faction is scheduled to take place on Tuesday afternoon.
