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BackDiesel and gasoline reach new record prices at German gas stations
Diesel and gasoline reach new record prices at German gas stations
NEWS
FAZ59 minutes agoBusiness2 min readGermanyView original

Diesel and gasoline reach new record prices at German gas stations

A liter of diesel costs a nationwide daily average of 2,453 euros. Gasoline is also hitting a new all-time high.

Quick Look

  • Fuel prices in Germany at a new record high: A liter of diesel costs a national average of 2,453 euros and exceeds the April high.
  • Gasoline reaches fifth consecutive high at 2,314 euros.

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Why It Matters

Fuel prices have been exceptionally high since the start of the Iran war at the end of February and have risen significantly again since the end of August.

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Car and truck drivers also have to be prepared for new record prices for diesel when refueling: a liter cost a nationwide daily average of 2.453 euros on Wednesday, exceeding the previous all-time high from April by 0.6 cents, according to figures from the ADAC. Gasoline has been at record levels for days and reached its fifth consecutive high on Wednesday at 2.314 euros per liter.

Fuel prices have been exceptionally high since the Iran war began at the end of February. They have also increased significantly again since the end of August. Overall, diesel is currently almost 71 cents more expensive than on the last day before the outbreak of war. E10 by almost 54 cents. However, adjusted for inflation, fuels have already been more expensive in the past.

That’s how high the additional costs are for drivers

For drivers, the current development means additional costs: Assuming a typical gasoline engine with a mileage of around 800 kilometers per month and an average consumption of eight liters per 100 kilometers, at current prices it is 34 euros per month more than before the start of the war. For a typical diesel driver with 1,400 kilometers and a consumption of seven liters per 100 kilometers, it is 69 euros.

In view of the sharp rise in prices, a new debate has broken out in politics about further relief. In principle, there are proposals and commitments to this from both the Union and the SPD. However, it is controversial which measures should be implemented.

Fuel prices fluctuate greatly throughout the day

The price of crude oil is typically the most important driver of changes in the price of gasoline. But there are also other factors such as transport and refinery capacities. In addition, the price of diesel is typically more vulnerable to crises, which is why the fuel currently costs more than gasoline, even though it is taxed lower.

Prices can vary significantly regionally and depending on the type of gas station. In addition, the price fluctuates greatly throughout the day - after the price jump at midday, fuel is usually more than 20 cents more expensive than immediately before. In the afternoon they usually fall again quickly until they usually reach their daily low in the late morning of the next day.

If you put everything together, there are wide ranges: While premium gasoline of the cheap E10 variety was available late in the morning at particularly cheap gas stations for little more than 2.10 euros, shortly after the price jump at 12 p.m., expensive premium gasoline was sometimes being charged at more than 3 euros per liter at motorway gas stations.

Open Questions

  • What specific relief measures are politicians planning?
  • How long will crude oil prices remain high?

Related Topics

This article was originally published by FAZ.

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