German economic minister Katherina Reiche (CDU) announced after a cabinet meeting that, in line with the “Austrian model”, gas stations in Germany will only be permitted to raise fuel prices once per day, while price reductions will remain unrestricted. She said the rule would be introduced “as quickly as possible” and that antitrust law would need to be amended. The government is still searching for an existing legislative process to attach the measure to, and Reiche was not able to give a precise timetable.

At the same time, Reiche confirmed that Germany intends to release part of its national oil reserves. The International Energy Agency has asked member states to make 400 million barrels available; Germany has pledged to comply. The ministry will begin discussions with the national Petroleum Reserve Association to work out the details of the release.