According to the ADAC (General German Automobile Club), fuel prices in Germany are too high. On Sunday, premium petrol costs an average of 1,788 euros per litre, diesel 1,602 euros. That means that since December gasoline has become about ten cents more expensive, although both the oil price and the dollar price have fallen.
Fuel should therefore actually be cheaper, said Jürgen Albrecht of the traffic club. Premium petrol was the cheapest in mid-January this year at 1,692 euros and diesel at the beginning of June at 1,556 euros. “It is striking how much the price of diesel has fallen in the past six months. But that is really just normalization compared to the extreme fluctuations of the past year.” At the time, the war in Ukraine caused unprecedented price spikes.
Competition needed for falling prices
It is unlikely that prices will drop quickly in the coming weeks, Albrecht said. Unfortunately, some consumers have already become accustomed to the higher prices. Commuters often have no alternative. “That slows down the competition needed for falling prices. Because the mineral oil companies and refiners will hardly voluntarily give up the more comfortable margins they have built up since 2022.”
Albrecht advises anyone who goes on holiday by car to fill up the tank the night before the trip. At this time, fuel is usually a few cents per liter cheaper than in the morning. Further price developments are difficult to predict. “In the autumn, however, the gap between diesel and petrol will probably narrow again. He typically does this because diesel is gaining ground compared to petrol due to the increasing demand for fuel oil.”
In Austria you can currently refuel slightly cheaper. On Sunday, according to E-Control, the average prices for the whole of Austria were 1,489 euros for diesel and 1,533 euros for super. In the east, prices are usually lower than in the west.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
