Tank Prices Hit Record Highs in September, Driving Fuel Costs Up Across Germany
Economy / Finance

Tank Prices Hit Record Highs in September, Driving Fuel Costs Up Across Germany

The ADAC reported that last month saw new record highs in prices for both types of fuel. In September, the average cost for a liter of E10 gasoline was €2.266, marking an increase of almost twelve cents compared to August. Diesel prices also rose significantly, gaining 16 cents to reach a monthly average of €2.386. This made September the most expensive month for fueling so far.

The highest price for E10 nationwide occurred on September 16th, reaching €2.314 per liter, while the peak price for diesel was recorded on September 17th at €2.471 per liter. Both of these days featured the highest fuel prices recorded that month. Conversely, the cheapest day to refuel in both categories was September 1st, with E10 costing €2.183 per liter and diesel at €2.232 per liter.

Although oil prices rose continuously throughout the month, the ADAC stated that the current high fuel prices cannot be explained solely by the raw oil market development. A comparison with the spring period illustrates this point: in April, the price for a barrel of Brent crude was significantly above $100. Even then, the average price for E10 was noticeably lower than the level seen in September, despite the higher crude oil prices. While refinery and distribution costs, as well as taxes, contribute to fuel prices alongside crude oil, the ADAC confirmed that the current price gap compared to previous months is “not entirely comprehensible.”