Petrol prices have hit record highs in five European countries and neared peak levels in several others, a retail fuel analyst said today.
Pump prices in Germany, Spain, Belgium, France and Portugal reached all-time highs last Friday, according to calculations by UK-based Oil Price Assessments Limited (OPAL)
The surge in motoring costs is driven by spiralling crude oil futures that hit fresh records approaching $60 a barrel yesterday as refiners struggle to keep pace with global demand for key fuels such as diesel and gasoline.
Fuel prices in Ireland are continuing to rise at an alarming level and are now averaging well above €1 per litre.
Premium unleaded petrol prices in Germany reached all-time highs last Tuesday, rising further by Friday to €1.235 a litre for petrol and €1.092 a litre for diesel.
Main brand pumps in Spain sold at record prices for both unleaded and diesel on Friday, averaging €0.956 and €0.896 a litre, respectively. Belgian motorists paid an average €1.259 a litre for unleaded and €1.069 a litre for diesel.
In France, unleaded prices rose to a record €1.187 a litre, with diesel at €1.068 a litre. Petrol prices in The Netherlands were the highest among 15 European countries monitored by OPAL, at €1.328 a litre on Friday. Dutch diesel sold at €1.035 a litre.