Monika Schnitzer, chairwoman of the Expert Council for Assessing Overall Economic Development, does not anticipate that the ceasefire in the Iran conflict will lead to rapid price drops at gas stations. Speaking to the “Neue Osnabrücker Zeitung” she noted, “Prices tend to rise quickly; a reduction usually takes several days”. However, she does expect that lower oil prices will eventually be passed on.

Nevertheless, the sustainability of any easing remains questionable, as the situation is currently described as “very volatile”. Schnitzer emphasized that the crucial factor is whether the two-week ceasefire can be used to achieve a permanent end to the war. Even if this succeeds, it will take weeks for supply chains through the Strait of Hormuz to fully restore, meaning the damage to the German economy is already considerable.