Half of what Europeans pay for diesel is tax.

Half of what Europeans pay for diesel is tax.

In the 🇪🇺 euro area, taxes are 51.5% of the pump price.
In 🇺🇸 the US, 16.1%.

That one number explains why Americans took the biggest diesel shock of the war.

Here’s what a litre was made of in early 2026:

🇺🇸 US: crude 40.6%, refining and distribution 43.2%, taxes 16.1%

🇪🇺 Euro area: crude 23.3%, refining and distribution 25.2%, taxes 51.5%

If crude and refining double in price, the US pump price rises about 84%.

In Europe, it rises about 49%, because most of the tax is a fixed amount per litre.

The war did roughly that.

US diesel is up 67% since February, Europe’s 28%.

Europeans still pay more, about $2.41 a litre against $1.68.

Americans feel every move in the world price, and the biggest slice of their litre goes to refining.

That’s the slice that paid for Big Oil companies record quarter.