Fuel prices: Gasoline and diesel are becoming cheaper – but that could change in December

Created: 11/25/2022, 3:12 p.m

By: Lisa Mayerhofer

Gasoline and diesel prices fell again this week.

However, an expert warns: “You cannot give drivers the all-clear.”

Munich – Good news for motorists: The prices at German petrol stations have again fallen significantly and are almost down to pre-war levels.

E10 premium petrol fell within a week by 6.4 cents per liter, diesel by 6.5 cents, as the ADAC announced on Wednesday.

E10 cost 1.785 euros per liter on a nationwide daily average on Tuesday, diesel 1.899 euros.

Fuel prices are falling – ADAC attributes this to lower oil prices

Excluding the phase of temporary tax cuts in the summer, Super E10 was last cheaper on the day the war began, diesel was last on March 3rd.

The price of diesel in particular has recently fallen.

In the weekly review of the ADAC for the fifth time in a row.

The price has fallen almost 25 cents since mid-October.

E10 has also become cheaper in recent weeks, but not as much.

ADAC attributes the current decline primarily to the drop in oil prices.

In addition, a revival of competition is observed there, which is driving the "overdue downward movement of excessive fuel prices".

The price of petrol has "in the meantime moved back to a largely understandable level," said a spokesman.

Before that, measured by the price of crude oil, it had been “massively overpriced” for months.

However, this does not apply to the more expensive diesel, which is taxed around 20 cents lower: "There is still a lot of room for improvement here, the price of diesel must continue to fall."

Oil prices weighed down by the corona situation in China

But why are the prices for petrol, diesel and crude oil falling now of all times?

The fuel prices are currently falling with a two or three day delay parallel to the prices on the international crude oil markets, reports the

.

On Thursday morning, a barrel (159 liters) of the North Sea Brent cost 84.92 US dollars (81.89 euros).

That was 49 cents less than the day before.

Crude oil prices have been weighed down for some time by the tense corona situation in China.

Rising infection rates and new deaths have led to harsh countermeasures by political leaders, weighing on the economy and energy demand.

In addition, there are weaker economic data from the USA, which together with China are the world's largest oil consumers.

The price cap for Russian oil planned by the European Union (EU) is attracting increasing attention on the oil market.

According to a report by the

news agency , the price limit could be set significantly higher than previously expected.

This would reduce the significance for actual trading and reduce the risk of countermeasures by Russia a bit, as analysts at US bank Goldman Sachs explained.

Expert: "Can't give motorists the all-clear"

But the relaxation for German motorists does not last long.

Clever Tanken boss Steffen Bock warns the

: "We are currently experiencing a recovery phase.

But you can't give motorists the all-clear.” The reason is the oil embargo against Russia, which will apply from December 5th.

Bock explains: “From then on I expect prices to rise again.

In addition, the driving season at Christmas will heat up fuel prices.”