Energy shock causing limited economic harm – study

Economists at the National Bank of Belgium have concluded that the energy supply shock has yet to derail the global economy.

In a blog post published on August 27, Geert Langenus and Kristel Buysse say oil prices have risen far less than expected, leaving them well below the record levels reached in 2008. Average petrol (gasoline) and diesel prices in July were 20% and 24% higher, respectively, than at the end of 2025. Crude rose by 39% over the same period, but duties and other fixed costs