Which countries face the highest pump prices?
Oil prices have surged past the $100 mark. This spike follows supply chain turbulence triggered by strategic strait strikes. Geopolitical tensions worsened after US-Iran talks stalled in August. Hostilities resumed, drastically cutting commercial traffic through the Strait of Hormuz. Daily vessel transits dropped below twenty. Meanwhile, Tehran-backed Houthi rebels attack shipping near the Bab-el-Mandeb Strait. This route previously balanced trade between Yemen, Eritrea, and Djibouti. Experts now call this the largest physical supply disruption in global energy history.
Purchasing power shifts the economic landscape
Netherlands drivers pay the most for gasoline in Europe. The average price reached €2.43 per liter on Tuesday. Denmark follows closely at €2.35 per liter. Finland ranks third with prices at €2.32 per liter. France and Greece also face significant pressure. Standard octane fuel costs €2.23 and €2.20 per liter there, respectively. Diesel drivers hit even harder by the price wave. In France, diesel hit €2.40 per liter on Tuesday. Italy stabilized at €2.36 per liter. Denmark leads the diesel ranking. A liter costs €2.52 there. The gap to the cheapest regions is stark. North Macedonia sells diesel for just €1.70 per liter. Andorra charges €1.72 per liter. This represents nearly a one-euro difference across the European spectrum.
How do these prices affect real buying power? The economic landscape changes when normalized by Purchasing Power Standards. This metric removes price level discrepancies for cross-country comparison. We measured the cost to fill a 50-liter tank. Then we divided it by national GDP per capita. Finally, we adjusted for purchasing power differences. A higher percentage means refueling costs more relative to the country's economic capacity. The Balkans appear hardest hit. Bosnia and Herzegovina tops this ranking for a 50-liter refill. Within the EU, Greece sees fuel prices squeeze household budgets the most.
Refining capacity faces intense pressure
The oil supply disruption strains refining capabilities significantly. The International Energy Agency noted a drop in July 2026. Global refinery output fell by nearly five million barrels daily compared to July 2025. This created a bottleneck in the refined products market. With Persian Gulf crude flows interrupted, refineries sought alternative sources. They often paid premiums to secure supplies. However, crude types are not always interchangeable. Replacing established supply routes incurs substantial costs. The scene was completed by smoke and flares from a refinery southeast of Moscow. Ukrainian drones launched a massive attack there on Sunday, September 22.