Fuel prices hit all-time high
The Local · 21 Aug 2012, 07:58
Published: 21 Aug 2012 07:58 GMT+02:00
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The figures, from German motoring organisation ADAC, included prices from independent filling stations – prices cited by the oil industry, which do not include these stations, were even higher, with Super E10 at €1.72, Super E5 at €1.76 and diesel at €1.56 a litre.
The ADAC accused the fuel industry of deliberately hiking prices ahead of this coming weekend, when school holidays end in Bavaria, Lower Saxony and Saxony, the Süddeutsche Zeitung reported on Monday.
ADAC fuel expert Jürgen Albrecht said the high price of crude oil, and the weak euro, were also behind the high prices. But, he added, “at a weekend with heavy traffic, the demand at filling stations rises, and the fuel companies use that of course for their price increases. That was always the case until now.”
A spokeswoman for the fuel industry said the high prices were directly linked to the high cost of oil, which currently sits at more than $114 a barrel of Brent crude - up from around $89 at the start of July.