Belgian fuel prices to reach new historic highs in May

Belgian fuel prices to reach new historic highs in May
Petrol and diesel are becoming more expensive following Russia's invasion of Ukraine. Credit: Pexels

The price of gasoline is set to rise again on 10 May, surpassing the historic highs recorded in early March.

According to the Directorate-General for Energy of the FPS Economy, the maximum price of Petrol 95 (E10) will jump 5.4 cents to €1.957 per litre. Petrol 98 (E5) will rise by 5.8 cents to €2.069 per litre.

The price of diesel has remained largely unchanged, having passed €2 per litre in mid-April.

During the last peak in March, the maximum recorded petrol prices were €1.95 and €2.02 respectively.

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Belgian fuel traders and petrol stations have long complained that maximum fuel prices are bad news for the economy. Rapidly increasing fuel prices mean that most petrol stations are selling at a loss, as they are unable to sell fuel at the market rate.

Despite record losses, the government has decided to stick to maximum fuel prices. Nearly 100 petrol stations stopped selling fuel in March due to the high price of fuel.

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