Since the beginning of the Iran war, oil companies operating within the European Union have made excess profits totalling €36 billion, a figure Greenpeace attributes solely to increased petrol and diesel prices.
This statement was released by Greenpeace on Thursday, coinciding with the day major oil companies such as Shell and Total Energies are scheduled to publish their quarterly financial results.
According to Greenpeace, consumer prices for fuel rose sharply between March and mid-September, far outpacing relatively stable production costs.
The environmental organisation argues that European motorists are effectively paying for these inflated profits, as the price hike at the pump is not justified by any significant increase in costs on the production side.
Focusing on Luxembourg, Greenpeace estimates that oil companies generated excess profits of €210 million between March and mid-October alone.
