Belgium has decided not to tap into its strategic oil reserves to ease rising fuel prices, despite several other European countries taking such measures. The federal government insists that emergency stocks should only be used in the event of supply disruptions, according to De Tijd.
As oil prices once again hover around or above $100 per barrel, Belgian motorists and transport companies are facing higher fuel costs. However, the federal government has ruled out releasing part of the country's strategic oil reserves simply to bring down prices at the pump.
Belgian authorities consider these reserves an essential safety buffer designed to protect the country against major disruptions to international oil supplies.
The government therefore intends to preserve these emergency stocks unless there is a genuine threat of shortages, rather than using them as a tool to temporarily reduce fuel prices.
Other European countries take a different approach
Belgium's position contrasts with that of several other European countries, which have already released part of their strategic oil reserves in an attempt to limit the impact of rising energy prices.
The Belgian government, however, is prioritising security of supply over short-term price relief, maintaining that strategic reserves should remain available for genuine emergencies.
The decision comes amid renewed pressure on energy prices, with oil trading around or above $100 per barrel. Higher crudes oil prices are pushing up costs for motorists and transport companies, while also threatening to fuel broader inflationary pressures.
