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Cyprus has the largest share of petrol use in EU

by THEFUTURE.TEAM

October 10, 2024

Petrol/diesel oil was the main energy source in road transport in the EU in 2022, while Cyprus had the largest share of use of motor petrol among member states, according to data released by Eurostat.

Petrol/ diesel oil and motor petrol remained the leading energy sources in road transport in 2022, according to the statistics.

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In the EU, petrol/diesel oil (excluding the biofuel portion) was the main source of energy in road transport in 2022, with a 65% share. Motor petrol (excluding the biofuel portion) followed at 25%, ahead of renewables and biofuels (6%), liquefied petroleum gases (2%), natural gas (1%) and electricity (0.3%).

In most EU countries, petrol/diesel oil was the primary source of energy for road transport, though there were noticeable differences between the countries.

The highest shares were reported in Latvia (80%) and Lithuania (76%), followed by Ireland, Austria, and Spain, each at 74%. In contrast, the lowest shares were recorded in Sweden (45%), Cyprus (46%) and the Netherlands (48%).

The share of motor petrol was highest in Cyprus (50%), the Netherlands (42%), and Malta (36%). The lowest shares were reported in Lithuania (13%), Latvia (14%) and Bulgaria (15%).

Energy consumption in transport at pre-pandemic levels

According to the statistics, in 2022 transport activities accounted for 31% of the final energy consumption in the EU, which made it the highest consumer of final energy, ahead of households (27%) and industry (25%).

Road transport was the largest energy consumer, responsible 74% of all energy consumption in transport, or 10,996 petajoules (PJ). Water transport accounted for 13% of all energy consumed in transport (1,935 PJ), followed by air (11%; 1,700 PJ) and rail transport (1%; 214 PJ).

Compared with 2021, air transport recorded the highest increase in energy consumption, with a striking 57% rise. In 2022, energy consumption levels in air transport were approaching the pre-pandemic figures, following sharp declines in 2020 and 2021.

Energy consumption also increased, if not as rapidly in road transport, which also approached 2019 levels.

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Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

August 21, 2026

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

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Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.