Oil prices experienced a significant drop after President Trump indicated the US military campaign against Iran was nearing its end. Despite this, European consumers have not yet seen relief at the pump, with fuel prices remaining high across major cities. Economists warn that the lag in price transmission from wholesale to retail fuel costs means inflation risks in the eurozone are still present. Various scenarios for future inflation and economic growth in Europe have been outlined, depending on energy price stability. The ECB may need to raise rates if energy prices remain elevated, reflecting a shift in market expectations.