Price shock at German gas stations: currently Super E10 gasoline is more expensive than ever in Germany. According to Automobilclub von Deutschland (AvD) on Tuesday, the average daily price per liter was 1.712 euros. This surpassed the previous all-time record of 1.709 euros set on September 13, 2012. Diesel cost 1.640 euros per liter – which is also a price record. Fuel in Germany has already reached record levels several times in recent months.
Reasons for rising fuel prices in Germany
After a brief recovery last autumn, fuel prices have been rising for weeks. The main driver is the price of crude oil, which recently surpassed $90 per barrel (159 liters) for North Sea Brent crude and reached multi-year highs.
Economic and political factors contribute to this: supply is tight and demand is robust. In addition, political tensions on the Russian-Ukrainian border are causing a large risk premium on the oil market. Russia is one of the largest oil producers in the world.
Adding to the expensive fuel is the price of CO2, which was raised again at the beginning of the year. However, according to AvD, the additional 5 euros per ton is only noticeable by about 1.5 cents per liter of fuel, depending on the fuel and biofuel content.
The changes are particularly drastic compared to 2020, when oil and fuel prices bottomed out due to the Corona crisis. Since then, the trend has been upward with fluctuations.
A large portion of the price of fuel is taxes
A large part of the price of fuel at the gas station is taxes and duties. For Super E10 at the current price level it is a good 27 cents VAT, almost 65.5 cents energy tax and the CO2 price, which for E10 without VAT is between 6 and 7 cents depending on the actual blend of the biofuel.
source: bild.de, AvD