EU states using strategies to confront price hike at gasoline pump: Report
As the crisis in Ukraine sends global fuel prices spiraling higher, governments in European Union (EU) member states are scrambling for ways to reduce the economic impact their citizens are feeling at the gasoline pumps.
Prices for gasoline surpassed 2 euros (2.1 U.S. dollars) per litre in most of the 19 eurozone countries in recent days, according to media reports. The main factor pushing prices higher is supply issues related to the conflict between Russia and Ukraine.
Average gasoline price briefly spiked above 2 euros per litre at the start of the escalation of the conflict in February, but the latest increase is part of a sustained climb in prices amid supply shortages and worries of shortages during summer travel months.
