Belgium Diesel Prices Hit Record High

Diesel prices in Belgium are set to reach a historic level tomorrow, passing the 2.50 euro per liter mark for the first time.

The latest figures from the economic statistics office show that the price will rise above the previous record set in April, when diesel reached 2.489 euro per liter.

There is some good news, however. Oil prices are falling in the market for the fourth day in a row. If the trend continues, fuel prices could start falling again within the next few days.

Still, oil remains much more expensive than it was before the war in the Middle East.

The price of a barrel of North Sea Brent crude, which contains about 159 liters, fell 1.75% this morning to around $102.

Meanwhile, the price of U.S. West Texas Intermediate crude was around $98 a barrel.

Markets have started to calm somewhat as diplomatic efforts continue to find a way to end the conflict in the Middle East.

U.S. President Donald Trump has also said he is “perhaps” willing to meet Iranian President Masoud Pezeshkian on the sidelines of the United Nations General Assembly meetings taking place in New York this week.

For drivers, the immediate problem remains high fuel prices. Even if oil prices continue to fall, it may take some time before the drop is fully reflected at gas stations.

For now, diesel prices are heading into record territory, putting additional pressure on drivers and businesses that depend heavily on diesel.