The new billion-dollar fuel discount has been in effect since midnight. Initial data shows a sharp decline in prices at gas stations.
AI-generated summary
A new fuel discount worth billions is intended to reduce fuel prices by the end of the year, without gas stations being legally obliged to pass it on.
The new, billion-dollar fuel discount has been in effect since midnight. The price of gasoline and diesel is expected to fall by 16.7 cents per liter until the end of the year. But whether the gas stations pass on the price reduction in full is up to them - they are not obliged to do so. Now data from the fuel price portal Tankerkönig shows after the first few hours: The price dropped significantly when the fuel discount came into effect.
The ADAC determined a price drop of 14.5 cents for Super E10 at 8 a.m. this morning compared to Wednesday morning. Diesel cost an average of 15.2 cents less than 24 hours earlier. “This means that a large part of the tax relief of around 17 cents has already been passed on to consumers,” says the transport club, assessing the current prices.

Yields on global bond markets are rising to long-term highs. The trigger is a massive sell-off in US government bonds, which is putting pressure on interest rates worldwide due to concerns about inflation, high national debt and technical market factors.

With the start of the new fuel discount, fuel prices in Germany have fallen significantly. The ADAC recorded declines of over 14 cents per liter in the morning before prices rose again at midday. The measure remains controversial due to its effectiveness.

The Stuttgart District Court has opened insolvency proceedings for four Varta companies. Around 2,300 employees are affected. The insolvency administrator is hoping for investors, while 350 jobs will be lost in Nördlingen.

France's government bonds are coming under pressure as interest rates on 10-year bonds reach almost five percent. The government is planning austerity measures of 54 billion euros, but faces political resistance and a high debt ratio of 119 percent.

The Dax was down around 0.3 percent at 25,121 points on Thursday afternoon. The market environment is being weighed down by a surprisingly strong rise in German consumer prices, while mixed indices are being recorded on Wall Street and the Nikkei in Japan is rising.
The expansion of the southern section of the Leipzig-Chemnitz railway line will cost around 600 million euros, about twice as much as originally planned. Deutsche Bahn expects construction to begin in 2032, while the northern section faces reductions due to skyrocketing costs.