EU fuel prices surge 23.8% year-on-year in August

Eurostat stated on Tuesday that fuel and lubricant prices for personal transport across the European Union surged 23.8% in August 2026 on an annual basis, accelerating markedly from the 13.7% increase recorded in June and the 16.9% rise seen in July as energy costs continued to pressure household budgets across the bloc.

Annual acceleration

Prices for fuels and lubricants climbed in 26 of the 27 EU member countries in August compared with August 2025, according to the statistical office. A total of 18 EU countries recorded annual price hikes exceeding 20% during the month, with Bulgaria posting the highest increase at 34.5% and Hungary registering the lowest at 1.3%.

National divergences

Lithuania followed Bulgaria with a 28.8% annual increase, while Finland recorded 27.6%, Germany 27.5%, and France 27.4%. Sweden saw a 6.1% rise and Ireland recorded 11.7%, placing them among the minority of states with relatively moderate annual growth below the bloc-wide average.

Monthly price movements

On a monthly basis, EU consumers faced an 8.3% increase in diesel prices and a 3.3% rise in petrol prices in August compared to July, building on respective gains of 4.3% and 4.7% recorded the previous month. Diesel prices increased in 26 EU countries between July and August, led by Czechia at 14.3%, Bulgaria at 13.5%, and Luxembourg at 12.3%, while Italy recorded the lowest monthly diesel price increase at 5.2%.

Petrol prices rose in 22 member states, remained stable in two, and dropped in three countries during the same period. Spain posted the largest monthly increase at 8.2%, followed by Romania at 6.6% and Italy at 6.3%, whereas Hungary recorded a slight monthly decrease of 0.6%, Denmark dipped 0.3%, and Slovakia saw a marginal 0.1% decline.