European energy imports cost 37 % more compared to a year ago

Euro-zone nations spent over a third more on energy imports in the first two months of 2008 from a year ago, the EU statistical agency Eurostat said Friday.

EU officials have argued that the strength of the euro against the dollar, while hurting exports to the United States, has benefited European customers by cushioning them from surging oil prices because the exchange rate cuts the overall cost of dollar-priced oil.

But Eurostat said the 15 euro countries still paid €60.2 billion (US$93 billion) on energy imports in January and February, a 37-percent increase from the same two months last year.

International Herald Tribune