EU Energy Commissioner Warns of Long‑Term Oil Crisis
Get the Energy newsletter
Daily energy & climate — solar, EVs, oil, the policy fights and tech bets shaping the transition. Free.
- Dan Jørgensen warned that Europe must prepare for a long‑term crisis with higher oil and gas prices for a very long time.
- Dan Jørgensen told EU energy ministers that oil and gas prices will not return to pre‑war levels soon, even if the Middle East conflict ends today.
- EU's oil and gas import bill rose by $16.2 billion (14 billion euros) in the 30 days of conflict, according to Jørgensen.
- Jet fuel supplies are especially concerning, as Europe heavily depends on Middle East imports that have been disrupted.
- Diesel prices hit $200 per barrel this week after three US‑to‑Europe tankers rerouted to Africa.
- EU may need to consider legislative tools as the situation worsens, Jørgensen said.
Why it matters: European airlines, trucking firms, and consumers will bear sharply higher fuel costs as diesel spikes to $200 per barrel and jet fuel supplies tighten, while the EU’s $16.2 billion import‑bill surge pressures policymakers across the bloc to consider emergency legislative measures in the coming months.
Ask SkimNews
