Sepp Müller, the co‑chair of the Bundestag Taskforce “Economic Effects of the Iran War” which comprises members of both the CDU/CSU and SPD parliamentary groups, has warned oil companies that the sharply rising petrol prices are unacceptable. In an interview with “Die Welt”, Müller demanded to know how the pricing practices have come to be, saying that the taskforce has tools to influence the market and that the issues should be taken seriously by the companies.
Müller added that although he will not disclose specific details, the Federal Cartel Office has a range of measures at its disposal-from fines to regulatory intervention. “If we find price agreements or inexplicable price setting, the cartel office can act and halt it” he said.
The taskforce held its first meeting on Friday, but Müller tempered expectations that prices could be swiftly lowered. “Honest politics means not acting abruptly. The public speculation about measures, such as a fuel discount, would immediately prompt market adjustments. Dealers and speculators would change their expectations and bet against government action, potentially sparking a new price spiral” he explained. “In such a situation, serious politics means deliberately avoiding quick signals”.
Müller does not foresee another sharp rise in gasoline or diesel prices. “There is sufficient oil and fuel on the market, and Germany is not facing a supply bottleneck. Hence, currently we do not expect any further major price spikes” he said.
He also does not anticipate a significant jump in inflation. “If the conflict remains limited in time, we are likely to see only a modest inflation increase of 0.3 to 0.5 percentage points. If the conflict lasts longer, overall inflation could rise by more than 1 %” Müller said. He noted that certain sectors, such as logistics or electricity, could see higher increases-particularly because gas prices affect electricity costs, which then ripple through value chains.