Europe’s oil bill: EU pays €10bn more per month than in 2025

European countries are paying far more for petroleum oil imports this year, following tensions in the Middle East in February 2026. Consumers are already facing higher petrol and diesel prices. Now, the EU’s import bill shows just how sharply costs have risen, Euronews reported.

In the second quarter of 2026, the EU spent an average of €27.6 billion a month on petroleum oil imports, up 55.8% from €17.7 billion a month in 2025.

But the volume of oil imported barely changed. It rose by just 1.2%, from 36.3 million tonnes a month in 2025 to 36.7 million tonnes.

That means the EU paid €9.9 billion more a month.

The cost per tonne also rose, from €487 to €750 over the same period, returning to its 2022 peak.