Drivers across Germany are facing higher prices at the pump, with both gasoline and diesel costs rising over the past week. According to the ADAC, Germany’s largest automobile club, the average price for a liter of Super E10 gasoline reached €1.687 on Wednesday, a 0.7-cent increase compared to the previous week. Diesel prices also saw an increase, climbing 1.9 cents to €1.628 per liter.
The upward pressure on prices is largely attributed to a noticeable rise in the cost of crude oil. Brent crude is currently trading around $70 per barrel, up approximately $3 from the previous week. Contributing to the effect is a slight weakening of the Euro, which is currently valued at $1.17 against the US dollar.
While the ADAC acknowledges that gasoline prices remain at a reasonable level, they express concern over the comparatively high cost of diesel. The narrow difference of just 5.9 cents between gasoline and diesel prices suggests a degree of overpricing for diesel, especially considering the recent easing of geopolitical tensions. Given that diesel is subject to a significantly lower mineral oil tax rate – approximately 20 cents per liter – the ADAC suggests there remains potential for diesel prices to decrease. They note that diesel prices have increased considerably more rapidly than gasoline prices in recent weeks and therefore adjustments are warranted.