Petrol prices hit all time high in February

Petrol prices hit all time high in February
Photo: DPA
February proved to be the most expensive month in German history for petrol, with average costs for Super E10 at €1.59 per liter, or 5.1 cents higher than in January, the German auto club ADAC said Thursday.

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.

DAPD/The Local/mw


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