Rising fuel prices squeeze household budgets across Europe as affordability varies by income

Retail fuel prices alone do not tell the whole story of how consumers cope with commuting expenses; the average monthly income plays a decisive role in preventing energy costs from overwhelming family budgets.

Geopolitical instability in the Persian Gulf, transit restrictions on crude oil shipments through the Strait of Hormuz, and a sharp increase in international oil prices recently triggered a new wave of fuel price hikes worldwide. Although Brent crude experienced a slight decline at the...