Gasoline prices increase before the end of the fuel discount

IThe temporary reduction in energy tax on fuel, the so-called tank discount, expires in Germany this week. This should increase the price of diesel by 17 cents per liter from Thursday onwards, and by 35 cents for Super E10. In the past few days, fuel has become more expensive again. A liter of Super E10 cost an average of 1.772 euros, a liter of diesel 2.065 euros. The car club ADAC and consumer advocates warned of a possible abuse of the tax relief by mineral oil companies.

“Obviously, the mineral oil companies are already creating a certain cushion again,” said ADAC transport president Gerhard Hillebrand of “Bild am Sonntag”. The head of the Federal Association of Consumers, Ramona Pop, also criticized that competition in the fuel market only works to a limited extent: “The Cartel Office must therefore check carefully whether the mineral oil companies are not unjustly enriching themselves and, if necessary, impose fines.”

That Federal Cartel Office has announced that it intends to “take a close look” after the tax break has been abolished. While the ADAC is convinced that there is already an anticipated price increase from the gas station chains, the petroleum industry association Fuels und Energie says that the current price increase has nothing to do with the end of the discount, that is still to come.

Gasoline prices compared to France

In an analysis available to the FAZ, Munich economist Monika Schnitzer compared the recent development of fuel prices and margins in the industry in Germany and France (see chart).

She came to the conclusion that the prices in Germany had fallen significantly compared to those in France from June 1st. This is interpreted as the effect of the tank discount. Since the beginning of July, however, prices in Germany have gradually risen again compared to France. “The next observation fits in with this,” writes Schnitzer: The gross margins in fuel trading were long similar in Germany and France, only for diesel the margin in Germany was lower from June 1st.

Source link