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Belgium Faces Record-High Diesel Prices—Economy Ministry
(MENAFN) Diesel prices in Belgium are set to hit a new peak on Tuesday, as reported by Belga News Agency, citing the Economy Ministry.
The cost of diesel (B7) will rise to €2.333 per liter (around $2.77), an increase of 17 cents. Petrol 95 (E10) is expected to reach a maximum of €1.92 per liter (about $2.28), up 5.7 cents, while heating oil (H0/H7) will increase 3.5 cents to €1.4347 per liter (nearly $1.70) for orders of at least 2,000 liters.
The surge in fuel prices follows Iran’s announcement on March 2 imposing restrictions on navigation in the Strait of Hormuz, a crucial transit route for oil tankers, warning that any vessel attempting passage without coordination could face attacks.
Approximately 20 million barrels of oil pass through the strait daily, and its partial closure has driven up oil prices as well as shipping and insurance costs, raising concerns about global economic stability.
The region has remained on high alert since the United States and Israel launched an air offensive against Iran on February 28, which has reportedly resulted in more than 1,340 fatalities, including then-Supreme Leader Ali Khamenei. Tehran has responded with drone and missile strikes targeting Israel, Jordan, Iraq, and Gulf nations hosting U.S. military facilities, causing casualties, infrastructure damage, and broader market disruptions.
The cost of diesel (B7) will rise to €2.333 per liter (around $2.77), an increase of 17 cents. Petrol 95 (E10) is expected to reach a maximum of €1.92 per liter (about $2.28), up 5.7 cents, while heating oil (H0/H7) will increase 3.5 cents to €1.4347 per liter (nearly $1.70) for orders of at least 2,000 liters.
The surge in fuel prices follows Iran’s announcement on March 2 imposing restrictions on navigation in the Strait of Hormuz, a crucial transit route for oil tankers, warning that any vessel attempting passage without coordination could face attacks.
Approximately 20 million barrels of oil pass through the strait daily, and its partial closure has driven up oil prices as well as shipping and insurance costs, raising concerns about global economic stability.
The region has remained on high alert since the United States and Israel launched an air offensive against Iran on February 28, which has reportedly resulted in more than 1,340 fatalities, including then-Supreme Leader Ali Khamenei. Tehran has responded with drone and missile strikes targeting Israel, Jordan, Iraq, and Gulf nations hosting U.S. military facilities, causing casualties, infrastructure damage, and broader market disruptions.
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