Fuel prices in Europe: where petrol and diesel are cheapest this winter

Oil prices have fallen hard. Brent crude, Europe's benchmark, dropped 7.6% in a single day on Monday 2 November to about $105 a barrel, after Iran signalled it would negotiate with the US. By the end of that week it was down to around $97. Drivers from Germany to Italy are now asking the same question: when will it show up at the pump, and where is fuel cheapest right now?

Prices across the EU right now

These are national averages from the European Commission's Weekly Oil Bulletin for the week of 2 November 2026, including all taxes.

*Malta's prices are held down by government subsidies, so it isn't a fair comparison.

Two things stand out. First, diesel is now more expensive than petrol in most countries — in Germany by about 15 cents a litre, even though diesel is taxed less. Second, the gap between neighbours can be large enough to matter for people living near a border.

Why the pump price lags behind oil

When oil jumps, pump prices tend to rise within days. When it falls, they drift down slowly. There are a few reasons:

• Stations sell fuel they bought earlier, at the old, higher price.
• Taxes are fixed per litre. In most EU countries, fuel tax and VAT make up a large share of the price, so a 10% fall in oil produces a much smaller percentage fall at the pump.
• Diesel has its own market. Europe's diesel supply has been tight this year, so diesel has been slower to fall than petrol.

Spain shows the lag clearly: between 30 October and 5 November, while Brent fell sharply, petrol at Spanish stations dropped only about 3 cents a litre.

Does a trip across the border pay off?

For a 50-litre tank, using the averages above:

These are national averages — stations near borders and motorways often charge more, and prices change every week. A detour only makes sense if you're already near the border: count the extra kilometres and your time.

What to do now

1. Don't panic-buy and don't wait for a crash. If oil stays lower, pump prices should keep easing over the coming weeks.
2. Use your country's price-comparison app. Prices can differ by 10–20 cents a litre in the same town; the cheapest time of day also varies by country.
3. Near a border? Compare first. Check the actual station price before you drive — and check the rules on carrying extra fuel in cans, which differ by country.
4. Heating oil users: the same lag applies. If your tank isn't urgent, watching prices for a few weeks may pay off.

Sources

• European Commission: Weekly Oil Bulletin
• fuel-prices.eu: Europe fuel prices, week of 2 November 2026
• fuel-prices.eu: Germany, 2 November 2026
• El Demócrata: Oil falls 17% in a week — what is missing to notice it when refuelling
• PetrolPrices: Oil falls 7.6% in a day on Iran talks