Petrol and diesel prices continue decline following Middle East breakthrough
Recommended retail fuel prices have fallen again, with Euro95 dropping by 0.7 cents and diesel by 1.1 cents. The ongoing decline reflects easing geopolitical tensions in the Middle East after reports of a US–Iran peace agreement, which has reduced pressure on global oil markets.
The average national recommended fuel prices set by major oil companies today stand at €2.450 per litre for Euro95 (E10), €2.263 for diesel (B7), and €2.634 for Super Plus 98. These figures are advisory only. In practice, drivers often pay 15 to 20 cents less per litre at self-service pumps and smaller local stations.
Oil prices have dropped below 80 dollars per barrel for Brent crude on global markets following the agreement between the United States and Iran.
Fuel prices have been declining steadily over the past few weeks. At the end of May, the average recommended petrol price was still around €2.64 per litre. According to UnitedConsumers experts, prices could edge down further if conditions on the energy market remain calm.
The deal marks a diplomatic breakthrough following a period of severe escalation and conflict in the Middle East. Iran and the United States have agreed to bring the fighting to a definitive end. A key flashpoint was the blockade of the Strait of Hormuz, a vital shipping lane carrying about a fifth of the world’s oil each day. The agreement ensures the route will be open and secure for oil tankers again.
Despite the historic breakthrough between Washington and Tehran, the agreement remains highly fragile. Israel is not a signatory to the deal. Israeli Prime Minister Benjamin Netanyahu has strongly criticized the agreement, arguing it grants Iran too many political concessions.
While a temporary 60-day ceasefire is currently in place to facilitate further negotiations, experts warn on WNLTV that potential unilateral military actions by Israel against Iranian-backed groups remain a major risk that could disrupt oil markets once again.
