Despite regulations, diesel prices hit new record high in Germany

Germany’s new fuel pricing regulation, implemented by the government to curb excessive price volatility, failed to prevent price hikes on its second day of implementation, while the price per liter of diesel nationwide reached an all-time high.

According to a statement from the German Automobile Club (ADAC), the price per liter of diesel nationwide hit a record high of €2.415 ($2.79) by midday.

This figure represents an increase of 11.8 cents compared to Wednesday’s data.

The price per liter of gasoline (E10) rose by 9.8 cents, climbing to an average of €2.198.

Under new regulations that took effect at the beginning of April, gas stations are allowed to raise prices only once a day.

However, they have unlimited authority to lower prices during the day.