In Luxembourg, diesel fuel costs 2.087 euros per litre. A sharp rise of 11.3 euro cents occurred today, October 12. In general, prices show more and more steep hikes. A barrel of diesel in the region costs the driver about 175-180 euros.
Thus far, this is not a record: on March 10, diesel cost 2112 euros. This was also the result of a sharp jump — 22.22% in one night. Prices were high for 2 days and then dropped to 1.695 euros per litre. Whether such a happy ending will be repeated now is hard to say.
But the forecasts are not too promising: the winter cold is approaching. Diesel fuel will soon be needed by numerous generators. There isn’t enough natural gas saved in the region to feed them through the cold season. And this means that the rise in diesel prices will become a problem not only for drivers, but for every resident of Luxembourg and the EU as a whole.
Some help will come from China. By the end of the year, the country will supply Europe with 1.2 million barrels of diesel per day. Unfortunately, even this will not be enough to completely close the current fuel gap in the European energy infrastructure. However, it will slightly soften the blow for the end users of fuel.