Petrol prices hit all time high in February
The Local · 1 Mar 2012, 15:26
Published: 01 Mar 2012 15:26 GMT+01:00
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Diesel fuel cost on average €1.48 per liter, or 0.8 cents under its record level posted in June, 2008.
The single most expensive day to buy petrol was on Feb. 28, when E10 took an average of €1.63 out of a driver’s pocket.
The ADAC blamed the record petrol prices on the rising cost of oil, which reached $125 per barrel. The stronger dollar versus the euro was also a factor.
Oil prices, when converted into euros, have never been more expensive, the auto club said, adding that petroleum conglomerates passed the price increases immediately onto drivers, whereas when prices drop, consumers have to wait a while to see a difference.