Greenpeace report alleges excess profits for oil companies following Middle East conflict

A report commissioned by Greenpeace indicates that oil companies have generated excess profits of over 80 million euros per day since the outbreak of conflict in the Middle East. These calculations, based on data from the first three weeks of March 2026, suggest a significant widening of the gap between crude oil prices and pump prices. In March alone, these excess profits reached approximately 2.5 billion euros. The data highlights that the price increase at the pump significantly exceeds the rise in underlying crude oil costs, with diesel seeing a more substantial divergence than gasoline. Daily excess profits from diesel sales are estimated at 75.3 million euros, compared to 6.1 million euros from gasoline. Germany and France recorded the highest total excess profits, at 23.8 million euros and 11.6 million euros per day respectively. Other countries experiencing the largest price discrepancies include the Netherlands, Sweden, Denmark, and Austria. Meanwhile, European citizens are facing increased financial pressure, with some traveling to neighboring regions to find lower fuel prices.