Rising Gas Prices and Falling Diesel Fuels Driven by Global Oil Market Instability
Economy / Finance

Rising Gas Prices and Falling Diesel Fuels Driven by Global Oil Market Instability

Super E10 prices have recently risen. According to the ADAC, the average price across Germany climbed by 2.8 cents compared to the previous week, reaching €2.183 per liter, which puts it close to the all-time high set in March 2022. In contrast, the price of diesel saw a slight decrease of 1.6 cents, averaging €2.232 per liter.

The recent military tensions between the United States and Iran have been driving up the price of oil. The Brent crude oil, which is relevant for Europe, recently cost around 95 US dollars per barrel, marking an increase of about eight percent compared to the previous week.

However, the ADAC noted that the current level of fuel prices cannot be explained solely by developments in the crude oil market. The club believes that fuel prices in Germany remain excessively high.