The German roadside‑fuel interest group, the TIV, says it expects oil giants to immediately pass on the price rise-now over $100-to motorists. TIV spokesman Herbert Rabl told the “Rheinische Post” on Tuesday that the companies will swiftly transfer the increased costs and may even charge higher rates at the pump. “Even 2.50 € per litre, or more, could become a reality” he warned.
Rabl added that station owners will obtain almost no share of the boost; they will receive only a small commission of a few cents per litre while the bulk of the profit stays with the producers. He also noted how the steep price jump is erasing customer goodwill and hurting the shop section, which accounts for about 60 % of the stations’ revenue.
“The surge in Germany is the strongest in Europe this past week” Rabl said, implying the firms feel unrestrained by the German federal minister. In light of this, the TIV is calling for regulation similar to Austria’s-where a company can raise prices only once a day and afterward may only lower them. Currently, the pump price in Austria sits at 1.70 €.