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Petrol price hits new high

The Local · 29 Apr 2011, 09:51

Published: 29 Apr 2011 09:51 GMT+02:00

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The average cost of petrol on Thursday topped €1.597 per litre, breaking the 2008 record high of €1.595 per litre. Some German stations are already charging more than €1.60 per litre.

Crude oil prices are significantly below 2008 highs, but a spokesman for German gas station chain Aral emphasized that it is not just the price of oil that affects petrol price, but the market demand and prices for products made from it.

“You can’t pour crude oil in the petrol tank,” said Aral spokesman Detlef Brandenburg.

Springtime petrol prices tend to rise in Europe due to American drivers’ demand for gasoline as “driving season” hits. US refineries are ramping up their production, but shortfalls are often bought from European sources, such as the main market in Rotterdam. Demand from developing countries, such as China, is also pushing prices upward.

Supply issues aggravated by the introduction of E10 ethanol fuel in Germany have also stimulated fears of price gouging.

Story continues below…

On Monday, an Esso station in one small German town temporarily raised the price of petrol to €9.99 per litre, apparently trying to dissuade customers from buying its dwindling amount of super petrol.


The Local (news@thelocal.de)

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Your comments about this article

10:58 April 29, 2011 by twisted
My Aral station is getting 1.619 a liter today at 1000....of course, the government gets a big %age of that so that should make the finance minster happy. Gouged by big oil and the government.
13:12 April 29, 2011 by taiwanluthiers
Some possible solution is drive less, use public transportation if possible, ride bicycles. I kinda wished the US would develop their transportation system so that people wouldn't have to drive so much.
15:51 April 29, 2011 by Mary E
Ripped off again.
16:41 April 29, 2011 by digital47
Don't worry the Americans won't be driving much longer. They are not used to these high prices and have no public transportation either. Be glad you live over there where the trains and trams run on time.
16:41 April 29, 2011 by Californian
Researchers at the German Agency for International Cooperation have compiled some data on what folks are paying at the pumps per gallon around the world, take a peek:

1) Istanbul, Turkey $9.96

2) Germany $8.35

3) France $8.29

4) Japan $6.62

5) Canada $5.56

6) Brazil $5.98

7) Australia $5.41

8) India $5.03

9) Brazil $5.98

10) China $4.54

11) U.S. $3.87

12) Iran $1.44

13) Saudi Arabia $0.61

14) Venezuela $0.08 (thanks to the generous subsidies of President Hugo Chavez)

Source: Examiner - april 29th 2011

It's doesn't look pretty for us in Germany. Point-Blank, we are being taken advantage of. No real reason for these prices other than GREED.
18:07 April 29, 2011 by iseedaftpeople
greed, and speculators on international commodity markets. They are to blame.

But also, every phase of economic recovery and upturn, like the one we are witnessing at present, brings with itself an increased demand for energy and therefore fossile fuel. Most of it is still greed and all that, but plain cyclical economics have an impact too. When the economy hit rock bottom in late 2008, prices for gasoline and diesel were plummeting... I remember seeing as litle as € .89 for a liter of premium once. So now that the economy is on the up-and-up, or as greedy corporations would have you believe it is with their record earnings, we are seeing fuel prices rise.
23:12 April 29, 2011 by whpmgr
There is an increase for demand of fossil fuels, then use Nuclear fuel for those things that can be powered by electricity.

Most of the ocst in EUrope is Taxes. Another problem is when the price shoots up in the news, gas stations go out and raise the price outside, even though they paid much less for the gas in the tanks. I heard this week that Exxon is only making about 8 cents per gallon sold. I find that rediculous, so it is rediculous.

If people around the world would stop asking their government to give them all of the freebees, then Europe would not be paying so much for gas.

According to Wikipedia (ok not the best source but can be soemwhat accurate) the cost of taxes is over $4.30 out of the $8.35 per gallon- The cost of gas is about $4.30 per gallon.
23:30 April 29, 2011 by euskept
Comment removed by The Local for breach of our terms.
03:02 April 30, 2011 by FredFinger
This is just the beginning of a constant price rise of consumables across the board. I predict that food prices will double in two to three years. If you had money in your pocket you can kiss it goodbye as the center of economic gravity swings to China, India and other emerging nations whose labor force works for very little. The heyday of western civilization is over folks and we'd better start getting used to it.
10:23 April 30, 2011 by tallady
The high prices are fuelled by speculators. The price of crude oil is based on the US dollar so as the dollar drops it will cost more in Euros and Pounds sterling.Another contributor is all the unrest in the middle east.

Commodities traders have created a self-fulfilling prophecy by bidding up oil futures prices. The old adage of supply and demand plays a much smaller role than previous years it is all about futures and reasons to inflate the market beyond anything reasonable and that being oil over 70$ a barrel .
14:58 May 1, 2011 by Englishted
13:12 April 29, 2011 by taiwanluthiers

Some possible solution is drive less, use public transportation if possible, ride bicycles. I kinda wished the US would develop their transportation system so that people wouldn't have to drive so much.

Oh yes ,good idea all I need is a bus running all night and day to cover 3 shifts or go the 42km round trip on a bike .

Plan B ?
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