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Fuel price falls further

2022-07-27T10:38:19.219Z


Will the tank discount now be passed on in full? Consumers now have to spend significantly less on petrol and diesel than they did a few weeks ago. There are mutliple reasons for this.


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Gas pump at a gas station: A liter of Super E 10 still costs an average of 1.75 euros

Photo: Julius Christian Schreiner / dpa

Petrol and diesel prices continue to fall despite the holiday season.

E10 premium petrol is back at the level before the start of the Ukraine war, according to ADAC figures.

A liter cost the nationwide average of 1.75 euros on Tuesday.

That is 3.9 cents less than a week earlier and exactly the value of February 23rd.

At that time, however, the tensions had already caused fuel prices to rise.

Diesel also fell on a weekly basis: the price fell by 3.5 cents to 1.928 euros.

However, the fuel is a long way from the pre-war level.

On February 23, it cost 1.663 euros.

Oil price down

In the weeks following the start of the war, diesel became much more expensive than E10 and overtook it in price.

In addition, the tax reduction applicable until the end of August for diesel at 16.7 cents per liter is lower than for E10, where it is 35.2 cents.

This tax reduction, also known as the fuel discount, is likely to be one reason for the lower fuel prices compared to the beginning of the war.

The Cartel Office suspects that mineral oil companies had initially pocketed a large part of the discount themselves.

It is unclear whether the corporations will actually pass on the relief for consumers in full.

Factors such as the oil price, which has fallen sharply in recent weeks, are also likely to have depressed prices at the gas station.

While recently prices of more than $120 per barrel were usual, the price – depending on the type – is currently slightly below or slightly above the $100 mark.

In the meantime, fuel in Germany is usually even cheaper than in many other European countries.

Based on E10, there was now the eighth price decline in a row on a weekly basis.

Diesel prices have also fallen, but with temporary stagnation or even slight increases on a weekly basis.

The 1.75 euros for E10 on Tuesday was the second lowest daily price since the outbreak of war.

On Sunday, the fuel was already slightly cheaper at 1.748 euros per liter.

apr/dpa

Source: spiegel

All business articles on 2022-07-27

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