Europe's fuel squeeze now costs 270 million euros a day, and refiners are the target

The Iran war fuel spike is costing the EU about 270 million euros a day in extra road transport bills, most of it diesel. Governments are responding by squeezing the companies that profit. Czechia just moved to cap retailer margins, cut diesel tax and levy a temporary charge on refiners' fatter margins. That refiner tax is the same threat TotalEnergies (TTE) tied its French price cap to, and it is now spreading across Europe.