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Petrol prices soar for summer holidays

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Petrol prices soar for summer holidays
Photo: DPA
14:53 CEST+02:00
Just in time for summer road trips, petrol prices in Germany reached a new high in May after five consecutive months of increases, German auto club ADAC reported on Wednesday.

On May 20, one day before the Ascension Day holiday weekend began, consumers got a taste of the “especially unfriendly side” of the month when prices reached their pinnacle for the year so far at €1.329 per litre ($7.18 per gallon). The monthly average was €1.285 per litre ($6.94 per gallon), ADAC's market research showed.

Meanwhile diesel fuel increased during the month's second holiday weekend to a monthly high on May 30 at €1.071 per litre ($5.76 per gallon), the auto club reported.

In mid-May, ADAC and another auto club ACE accused oil companies of intentionally unfair fuel price increases before holidays, saying prices were comparable to last summer's – when oil was significantly more expensive on the world market.

“Then the oil price was more than $150 per barrel, today it's under $60,” ACE head Wolfgang Rose said then. “It's obvious to everyone that the prices at the pump have been kept artificially high at the expense of consumers.”

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