Gasoline prices in Germany continue to fall, with a liter of Super E10 now costing 1.698 euros, a reduction of 1.7 cents from the previous week. Diesel, meanwhile, is priced at 1.577 euros, down by 1.3 cents. Despite a slight increase in Brent crude oil's price, currently hovering around $79 per barrel, fuel prices in Germany have dropped more significantly.
ADAC, the German automobile association, suggests that drivers should fill up their tanks in the evening, between 19:00 and 20:00 or 21:00 and 22:00, to save money. Prices during those hours are significantly lower, often six to seven cents cheaper, than at 7:00 in the morning when they can be as much as six to seven cents higher.
The decline in fuel prices in Germany is more noticeable compared to the upward trend in Brent crude oil's price. Additionally, the impact of a change in crude oil prices on gasoline prices is not always direct or immediate due to price flexibility and market dynamics. Regional factors, such as transparency and competitive pricing, also help mitigate the impact of short-term fluctuations.
While gasoline prices in Germany are higher than the world average, they are relatively stable and affordable. The cost of a 40-liter tank of gas is only 1.78% of the average monthly income, which is similar to other industrialized countries.
References:
- European Union (EU) – Energy prices (2023). Retrieved from
- Global Petrol Prices (2023). Retrieved from
- Oil Price information and News (2023). Retrieved from
