SEATTLE (Oil Monster): A new study commissioned by Greenpeace has revealed that oil companies are generating over €80 million per day in “war profits” across the European Union following the escalation of conflict in the Middle East. The report estimates that if current trends persist, additional operating profits could reach €2.5 billion for March 2026 alone.
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The analysis compared crude oil prices with retail fuel prices between January and February 2026 and during the first three weeks of March. Findings indicate that fuel prices at the pump have risen significantly faster than crude oil costs, widening profit margins for oil firms. Diesel sales accounted for the majority of excess profits, generating €75.3 million daily, while petrol contributed €6.1 million per day.
Higher margins were concentrated in wealthier European nations, including the Netherlands, Sweden, Denmark, Austria, and Germany. Germany recorded the highest excess profits at €23.8 million daily, followed by France at €11.6 million.
The surge follows strikes by United States and Israel on Iran, which triggered market volatility. Greenpeace has urged governments to impose windfall taxes to ease consumer energy costs.
