Bloomberg News

European Gasoline and Diesel Pump Prices Peak for Second Week

August 31, 2012

Gasoline and diesel prices at the pump rose to record levels in euros for a second week, according to data from the European Commission.

Retail gasoline advanced to average 1.701 euros a liter ($8.10 a gallon) this week in the European Union’s 27 member nations, exceeding a record 1.699 euros on Aug. 24, the data showed. That’s up 13 percent this year. Diesel climbed to a high of 1.548 euros a liter, compared with 1.543 last week.

The rally coincides with a surge in Brent crude, which gained 27 percent since its 2012 low in June to trade at $113.50 a barrel today on the ICE Futures Europe exchange in London.

To contact the reporter on this story: Lananh Nguyen in London at lnguyen35@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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