DiHK President Peter Adrian has expressed concern about the economic risks posed by the Iran conflict, particularly the low fill levels of German gas storage facilities. “The economic consequences of the Iran dispute are still not fully foreseeable for German companies – but the risks are clearly rising” Adrian told the “Rheinische Post” on Thursday.
Adrian noted that, unlike oil, gas prices on the market have already shown sharp swings. In the short term most businesses and private households may not feel the impact immediately, because gas deliveries to end‑customers are largely secured through long‑term contracts. “If the crisis continues, however, new contracts will become significantly more expensive. That will then hit the economy with full force” he warned.
He also highlighted worries about the upcoming refill of largely empty gas storage. “If this can only be achieved at substantially higher costs, we face persistently high gas prices throughout the coming winter” Adrian said. Such prices would further erode the competitiveness of many energy‑intensive firms.
When it comes to oil, the development is faster: rising global market prices translate almost immediately into higher pump prices. “In the short term there are hardly any alternatives” Adrian added. “Higher fuel costs represent a direct and almost unavoidable burden for small and medium‑sized enterprises-whether they are in crafts, retail, or logistics-since they can only pass on these extra costs to their customers to a limited extent. That adds to the pressure on these companies”.