Commissioner for Energy Dan Jørgensen, in a written answer on 12 June 2026, attributed recent high refining margins in the EU to regional dislocation and geopolitical shocks rather than weak competition or market failure, and pointed to the Commission's AccelerateEU initiative as the primary policy response. The answer came in response to a parliamentary question from MEP Danuše Nerudová (PPE), who had asked whether extraordinary refining margins—reaching USD 60–80 per barrel in March 2026, up to four times the usual level—indicated insufficient competition. Jørgensen stated that the Commission tracks energy prices via its weekly oil bulletin and considers product-specific imbalances, but that the recent volatility was triggered by logistical and geopolitical shocks, not market failure. He confirmed the Commission will continue monitoring the crisis and its impacts on refining margins. The answer contained no new concrete measures or numerical targets, instead reiterating the AccelerateEU initiative proposed on 22 April 2026, which aims to bring relief to consumers through timely, targeted, and temporary measures while avoiding fragmented national responses and reducing fossil fuel dependency. The response signals that the Commission sees the current price dynamics as a crisis-management issue rather than a structural competition problem, and that further regulatory intervention on refining margins is not currently planned. Institutional follow-up is expected to focus on implementation of AccelerateEU and continued monitoring of fuel price developments.
← Atlas › News › Energy