European Union warns of energy crisis as oil prices top $100 per barrel

European Commissioner for Sustainable Transport and Tourism, Apostolos Tzitzikostas, has declared the current energy situation an unprecedented crisis, noting that oil prices have exceeded $100 per barrel. Speaking during a meeting of EU transport ministers in Dublin in late September 2026, Tzitzikostas warned that the volatility in crude oil, diesel, and aviation fuel markets poses a significant threat to the global economy.

The crisis is largely attributed to geopolitical instability in the Middle East, including the closure of the Strait of Hormuz and attacks on energy infrastructure, which have severely restricted global supply. French President Emmanuel Macron has formally requested that European Commission President Ursula von der Leyen implement emergency measures to bolster diesel and aviation fuel supplies, potentially including the temporary relaxation of certain European regulations.

Tzitzikostas stated that if market conditions continue to deteriorate, he will request an extraordinary Council of EU Transport Ministers to finalize urgent intervention measures. While addressing immediate needs, the Commissioner also emphasized the necessity for long-term strategies, such as reducing dependency on imported fossil fuels, fostering innovation, and transitioning toward sustainable and rail-based transport systems.