Belgian Gasoline Prices Drop to Lowest Since March
Maximum gasoline prices in Belgium will fall to their lowest level since March 18, starting Friday, June 26, as the continued decline in international oil prices — driven by the US-Iran peace framework — delivers tangible relief to motorists at the pump. The Federal Public Service Economy (FOD Economie) published the new maximum tariffs under official tariff number 2026/121, reflecting the sustained downward trend in global crude markets.
New Maximum Prices
From Friday, a liter of benzine 95 (E10) will cost a maximum of €1.806, a decrease of 1.3 cents, while benzine 98 (E5) will be capped at €1.887 per liter, down 0.3 cents. According to Het Laatste Nieuws, these are the lowest maximum prices since March 18, when prices were at a previous low point before surging amid the Middle East conflict.
Why Prices Are Falling
The price drop is directly linked to falling international oil prices. Brent crude has fallen to nearly $76 per barrel, while West Texas Intermediate (WTI) is trading below $73 per barrel. This marks multiple consecutive weeks of oil price declines.
The primary catalyst has been the US-Iran peace framework agreement announced in mid-June, which includes the reopening of the Strait of Hormuz — a critical chokepoint for global oil transit that was effectively blocked during the conflict that began in late February. As the VRT NWS liveblog has documented, oil prices have fallen from above $90 per barrel to nearly $76, approaching pre-war levels.
Analysts caution that while the trend is positive, full normalization of trade through the Strait of Hormuz could take months. “The question now is how long it will take for trade through the Strait of Hormuz to normalize,” analysts warned, as reported by HLN. “That could take months.”
Broader Energy Context
The gasoline price reduction follows a significant drop in diesel prices last week. Diesel (B7) fell below €2 per liter for the first time in three months on June 19, with a sharp 7.8-cent decrease bringing the maximum price to €1.903 per liter.
However, the energy landscape in Belgium remains complex. A severe heatwave has caused electricity prices to spike dramatically, with peak prices exceeding €1,000 per megawatt-hour on the wholesale market. Energy specialist Joannes Laveyne (UGent) explained that the so-called “Kühlkraftkrise” or “airco peak” occurs when air conditioning units run at full capacity just as solar power generation drops at sunset.
European gas prices have also declined but remain above pre-war levels, trading at approximately €44 per megawatt-hour compared to around €32 before the conflict. Qatar is beginning to resume LNG exports through the Strait of Hormuz, with empty tankers returning to the Gulf state, which could further ease gas prices.
Government Measures
The Belgian government has not been idle. Energy Minister Mathieu Bihet (MR) and Consumer Protection Minister Rob Beenders (Vooruit) secured parliamentary approval for five measures designed to reduce energy bills and increase transparency. These include banning misleading welcome discounts that lock consumers into expensive contracts, preventing suppliers from charging administrative fees for periods beyond actual consumption, and requiring contract names to change when tariffs are adjusted.
According to Beenders, as reported by HLN, the measures should save 2 million Belgian families an average of €500 per year. For 700,000 of those families, the savings amount to at least €700 annually.
What to Watch For
While the gasoline price drop offers welcome relief, several uncertainties remain. Oil prices are still above pre-war levels, and the Brent crude price of ~$76 per barrel has not yet returned to the $74-76 range seen before the conflict began in late February. The US has also signaled willingness to reimpose sanctions on Russian oil now that prices have fallen, which could introduce new volatility.
For Belgian motorists, the immediate outlook is positive: gasoline prices at the pump will be the lowest in over three months starting Friday. But with geopolitical tensions still simmering and the Strait of Hormuz normalization process still in its early stages, analysts warn that price stability may take time to fully materialize.