Olive oil prices have roughly halved since the market hit its peak at the turn of 2024. Expana’s benchmark average European extra virgin price dropped 50.2%, from €9.06/kg to €4.51/kg, between 3 January 2024 and 1 January 2025. Wholesale prices have since dropped a further 3% to €4.39/kg as of 28 April 2026.