T&E 79d ago

Oil companies have made €3.2 billion in excess profits from EU drivers since the outbreak of the war in Iran at the end of February. EU drivers are paying for those profits at the pump where prices have leapt to well beyond €2 a litre. The longer we stay dependent on oil imports, the longer we stay shackled to volatile petrol prices and the global crises that cause them. If this situation lasts until the end of 2026, EU oil companies are on track to generate €32 billion in excess profits across the road fuel supply chain. Explore our tracker here, updated weekly ➡️ https://www.transportenvironment.org/topics/energy/oil Meanwhile, EV drivers are seeing the benefits of breaking free from this cycle. While chaos ensues at the pump and governments are scrambling to shield drivers from soaring prices, EV drivers don’t have to bat an eye. Energy independence starts with driving electric. #oilprofits