EU fuel prices skyrocket and will remain high in 2027
European Commissioner for Energy and Housing Dan Jørgensen (photo: Getty Images)
Europe is facing a new energy crisis amid geopolitical instability. European Commissioner for Energy and Housing Dan Jørgensen expects high diesel prices to persist throughout 2027.
He said the energy crisis would affect households and EU industry alike. The coming winter could be particularly challenging because energy costs are rising.
At the same time, Jørgensen noted that energy markets have shown resilience in recent months, while European refineries have played an important role in ensuring supplies of essential fuels, including aviation fuel.
Why fuel prices could remain high in 2027
One key risk is the global diesel market. According to the commissioner, the International Energy Agency warns that the market will remain tight for an extended period in 2027.
The European commissioner stressed that Europe needs to ensure reliable fuel supplies for households, businesses, and defense while keeping energy affordable.
Europe faces a difficult winter
Commissioner Jørgensen said the coming winter would be challenging for EU citizens and the European economy as a whole.
The European Commission is working with member states and energy-sector representatives to mitigate the immediate impact of high prices. At the same time, Brussels will seek long-term solutions to lower energy costs.
Priorities include increasing fuel production at European facilities and developing biofuels. The European Commission expects these measures to help reduce import-related risks and strengthen the region's energy security.
Earlier, Politico reported that European Commission President Ursula von der Leyen had proposed that EU leaders consider establishing strategic gas reserves amid concerns about potential fuel shortages this winter.
According to the outlet, stocks in European gas storage facilities have fallen to a record low this year.
