Gasoline costs are soaring in Europe
Europe’s biggest fuel prices have skyrocketed, according to new figures.
The average cost of a gallon of diesel fuel in Europe is €2.75, while petrol is €3.75 a litre.
These price rises are in line with the countrywide average price of diesel of €3 per litre, according data from Euromonitor International.
A typical European car now sells for €2,895.
Euromonitors forecasts that by 2025, the average European car will cost €5,150.
This is an increase of almost 12 percent over the previous year.
The data shows that the average fuel price in Germany will increase by 8 percent from €1.79 per litres to €2 per litret, and the average price in Italy will increase 16 percent from $1.94 per litree to $2.00 per litreon.
France is the country with the largest price increase, with a hike of 30 percent.
Gasoline is now the most expensive fuel in France, at €2 a litret.
The prices in France are also the highest in Europe, according a report from Euromarkets, which is based on a survey of over 700 companies.
The report found that gas prices are now $1 per litrer in France.
This compares to $1 in Italy, where a gallon now costs around $2 a gallon.
Euromarks also found that prices in Spain are still higher than those in the United States, but are falling.
In Spain, petrol prices are rising at a faster rate than in France and are now almost the same as they were in 2012, EuromARKets said.
This has led to a sharp drop in the number of vehicles in the country, according the report.
The study showed that the number dropped from nearly 5 million in 2012 to less than 3 million in 2017.
In 2019, Spain saw more than half a million fewer cars than in 2016.
Europe is not the only country to experience an increase in fuel prices.
In Austria, the country’s petrol is currently around $1 a litres.