Fuel prices in Germany rose Wednesday, the first day of a new government rule aimed at curbing excessive volatility at the pump, in an early setback for Berlin’s effort to ease pressure on motorists.
According to data from the German Automobile Club (ADAC), the nationwide average price of E10 gasoline stood at €2.099 ($2.44) per liter shortly before midday but jumped to €2.175 soon after the new mechanism took effect. Diesel prices also climbed from an average of €2.301 to €2.376 per liter.
Under the new legislation, introduced in response to price surges triggered by the war involving the US, Israel, and Iran, fuel stations are now allowed to raise prices only once a day at 12 p.m., while retaining unlimited freedom to cut prices during the rest of the day. The government says the measure is intended to boost competition and lower costs for consumers.
ADAC warned that reduced pricing flexibility may instead encourage oil companies to factor anticipated risks into prices in advance.
In a parallel move, Germany’s Federal Cartel Office, or Bundeskartellamt, announced the creation of a special unit dedicated to the mineral oil and fuel sector to enforce the new law.
The watchdog said the new department will monitor prices at around 15,000 filling stations nationwide in real time. Stations will be required to report every price change within five minutes, while violations could carry fines of up to €100,000.
ADAC data also showed that since the war began on Feb. 28, gasoline prices have risen by around €0.36 per liter, while diesel has climbed by more than €0.59.
By Mucahithan Avcioglu
Anadolu Agency
energy@aa.com.tr
