ADAC: Fuel Prices in Germany Ease Slightly – Oil Price Decline Only Slowly Reaching Pumps

Background: Brent Oil Significantly Cheaper

The background is a significant decline in crude oil: on the previous Thursday, Brent crude – the grade important for Europe – had still cost more than 100 US dollars per barrel (159 liters). Since then, the oil price has fallen sharply. As a rule, however, crude oil prices are only passed on to fuel pumps with a delay and in muted form – particularly for gasoline.

Compared to the last day before the start of the Iran war, Super E10 in Germany is currently still about 38 cents per liter more expensive. For a 50-liter tank fill, that corresponds to an additional cost of 19 euros for E10 and 23 euros for diesel.

Impact for Drivers

The ADAC pointed out that, in addition to the crude oil price, refinery capacities and exchange rates also influence fuel prices. The crude oil price is generally considered the central driver of fluctuations at gas stations. In recent weeks, crude oil had become significantly more expensive from mid-July, while fuel prices rose by only a few cents over the same period.

dpa-AFX reported from Munich that the sharp decline in oil prices has so far only minimally reached drivers in Germany. The ADAC is hoping for further reductions as soon as the oil price decline is reflected more strongly in end-consumer prices.

What Else Influences the Prices

Market observers see the short-term trend on Monday as a small signal of easing. Whether prices will fall more noticeably in the coming days depends, according to the ADAC, primarily on how far the crude oil price continues to drop and how strongly oil companies and retailers pass the movement on to consumers.

For consumers, the current situation means only minimal relief for the time being. Prices for gasoline and diesel remained overall at an elevated level, even though the trend on Monday pointed slightly downward.