The industry association Fuels und Energie (en2x) forecasts that petrol prices are unlikely to stabilize until next year. According to Alexander von Gersdorff, spokesman for en2x, developments in the Middle East remain the most crucial factor right now. He noted that a peace agreement would gradually ease fuel prices, but even if that occurred, a complete normalization of the market might not happen until as late as 2027, given the significant loss of refining capacity.
Addressing households currently needing to purchase heating oil for the winter, von Gersdorff advised them: “If your heating oil tank is currently running low, customers might consider ordering only small quantities and relying on the global market situation improving somewhat in the near future. However, providing a price forecast is difficult, if not impossible.” Heating oil prices have also risen sharply recently. This surge is attributed to the global shortage of oil and mineral oil products, as heating oil is particularly affected because it competes in the refining process with diesel, which is also in high demand.
