Oil sanctions against the world's second largest exporter of crude oil, Russia, are also a contributing factor.
- Of which half of their crude oil goes to European customers, says Christian Kopfer, who is a commodity analyst at Handelsbanken.
The biggest single reason is the price of crude oil, says Christian Kopfer.
But that demand will decrease due to an excessively expensive oil, he does not think will happen - for a while.
- There is a certain point, the higher the oil price, the greater the incentive for companies and others to switch to other alternatives.
But that kind of thing takes time.
The clip above gives five reasons for the skyrocketing fuel prices.