Fuel prices in Austria rise again at the start of the holiday season

According to market observers, the trigger for the latest increase is the recovery of the crude oil price. A barrel (159 liters) of the North Sea Brent grade for delivery in September most recently cost 82.75 US dollars. This means the price of the global reference grade rose by almost nine percent.

The background is the fighting that has flared up again in the Middle East. The tensions between the USA and Iran have made themselves clearly felt on the world markets, driving the oil price upward.

Despite the tensions between the USA and Iran that have been growing since last week, the oil price is still moving well below the level seen at the start of the conflict. At one point, a barrel of the Brent reference grade had cost a little more than 126 dollars.

A burden on the travel budget

For drivers in Austria, the development means higher costs, especially at the start of the travel season. Many families use the summer holidays for outings and vacation trips, which makes the fuel bills more noticeable.

The price data comes from the domestic regulatory authority E-Control, which evaluates current fuel prices on a daily basis. According to this, premium gasoline had already been more expensive at times in April: premium gasoline had sometimes cost more than 1.90 per liter.

Outlook on further developments

Market observers expect that prices will continue to fluctuate in the short term as long as the geopolitical situation in the Middle East remains tense. According to E-Control, even minor reports of escalation or de-escalation are immediately reflected at the pumps.