Iran conflict threatens to raise fuel prices above €1.60 per liter in Slovakia

Gasoline and diesel prices in Slovakia could rise above €1.60 per liter as the Middle East conflict creates the biggest energy market tensions since Russia's invasion of Ukraine in 2022. The war against Iran is expected to increase fuel costs, with natural gas and electricity potentially following suit. Economic analysts warn that if the crisis persists, inflation may fail to drop below 4 percent, potentially triggering a new inflationary spiral across Europe. In the worst-case scenario, the energy price surge could also lead to increased interest rates, adding further pressure to the Slovak economy.