Europe’s response to the fuel crisis – an overview by Experts Club

The analytical center Experts Club has analyzed how European countries are responding to the fuel crisis. The response of European countries to the 2026 fuel crisis has so far been uneven. Some governments are intervening directly in the fuel market – restricting exports, introducing price caps and releasing reserves. Others for now limit themselves to monitoring prices and coordinating at the EU and G7 level, trying not to provoke a shortage with even tougher steps.

Serbia has chosen the toughest form of intervention. The authorities have temporarily halted exports of oil, gasoline and diesel until March 19, explaining this as protecting the domestic market from shortages and price spikes. Reuters notes that Serbia had already kept control over fuel prices since February 2022, so the current decision is a continuation of a more interventionist regulatory model.

Hungary has followed a mixed scenario. On the one hand, Budapest has introduced a price cap on gasoline and diesel for cars with Hungarian registration. On the other, the government has decided to draw on state reserves, and the economy minister, according to Hungarian media, has also announced a cut in the excise duty and a ban on exports of some oil products. This is a typical example of a combined anti-crisis scheme, in which the authorities try both to hold down retail prices and to keep fuel physically available on the market.

Croatia has chosen a milder path – limiting maximum retail prices for a two-week period. The government set the maximum for Eurosuper at EUR 1.50 per liter, for diesel at EUR 1.55, for “blue diesel” at EUR 0.89, and also capped prices for liquefied gas. Zagreb stated outright that without this measure diesel would have cost EUR 1.72 per liter and gasoline EUR 1.55. This means that Croatia is trying not to isolate the market but to soften the final effect on households and businesses.

Slovakia and, in part, Czechia focused not on retail regulation but on supporting physical supplies. After the disruption of deliveries via the Druzhba pipeline, Slovakia approved the use of 250,000 tonnes of oil from strategic reserves to supply refining, while Hungary and Slovakia began talks on using reserves back in February. Czechia, for its part, said it was ready to send small volumes of oil to Slovakia via the eastern branch of Druzhba.

The United Kingdom is not introducing price caps or export bans for now. Rachel Reeves, the Chancellor of the Exchequer, said the government is watching the situation closely and warned retail chains that it will not allow “excessive profits” amid the oil shock. This approach is closer to a supervisory model: the authorities signal to the market that they are ready to tighten control over sellers’ behavior, but are not moving to direct administration of prices.

At the pan-European level, caution still prevails. The G7 and the EU are discussing possible measures, including the use of strategic reserves, tax changes and an adjustment of the carbon price, but a decision on a coordinated release of reserves has not yet been taken. France, as chair of the G7, says that “all options are on the table”, but acknowledges that there is no immediate shortage in Europe yet.

The European Commission, for its part, points to the structural vulnerability of Europe, which imports more than 90% of its oil and about 80% of its gas.

The main conclusion for Europe now is that countries are responding differently depending on their own vulnerability. The states of the Balkans and central Europe, which depend on imports and particular supply routes, tend to act faster and more sharply – through bans, price caps and reserves. The large economies of western Europe for now prefer coordination, pressure on the market and preparing instruments in case the situation worsens further. But if the oil shock drags on, the current targeted measures could grow into a broader wave of European intervention in the fuel market.