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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.

DAPD/The Local/hc

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The Local (news@thelocal.de)

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Your comments about this article

09:16 August 21, 2012 by smart2012
To all the friends who said yesterday that current merkel strategy is correct (ie wasting 1.5 years of our lives talking about 42 euros person worthed Greece)... One of the key focus of eu should be energy, as this is what it is really impacting our wallet (not Greece). But keep reading BILD and be happy to spend 17 euro cent x 20000 km = 3400 euros more per year per car... Very good strategycal thinking :) well done merkel
09:47 August 21, 2012 by Berlin fuer alles
No doubt another politician will come out and condemn Greece to gain some kudos and take attention away from the real problems we are facing.
09:50 August 21, 2012 by zeddriver
And look at the biggest contributor to the price of fuel. "TAX" Which makes up 55% of the price you pay at the petrol stand. Now you know why the government tries so hard to vilify the oil companies. It deflects attention away from the governments "tax them to death fiscal policies"
10:22 August 21, 2012 by Hicham1st
That's why I want to sell my car and buy an erdgas or autogas one, but does anyone have an idea which one is better?
08:00 August 22, 2012 by AlexR
"...average prices on Saturday reaching €1.692 a litre for Super E10, and €1.536 a litre for diesel. The record prices are hitting German motorists as many return from holidays."

It depends on where did the German motorists go for holidays. I'm currently in Greece and the price in the islands for the Unleaded has reached 2€ a litre! Yes, in crisis-hit Greece. The German price of 1.7€ a litre could seem dirt cheap in comparison.
08:51 August 22, 2012 by smart2012
Yes Alex, u r right, however keep in mind that it is Germany the country where even a poor guy has a finanzierung to have a suv, or a 2,5 liters car. In Greece I am sure u saw many 1.2 liters cars (which consumes less), a lot of motor bikes, or even gas cars.. And remember that Fuel prices in germany are kept lower by state to help car lobby.. I am anyway glad u r happy to pay 3400 euros more per year... See calculation above ;)
17:07 August 22, 2012 by sally#
The automotive industry is already in adversity because of the ongoing euro crisis. The record-high fuel price compounded the difficulty.But giant groups have their own way to survive and thrive. Schaeffler group chose to increase its investment to Asia and North America, which turned out to be a wise strategy.The CEO, Dr. Juergen M. Geissinger believed that even if local markets grow at different speed,the global business-growth will be sound.
01:09 August 23, 2012 by realitycheck1
Welcome to our world in the uk. Our fuel has recently dropped from about 1.85 euro recently to 1.7 euro and 80% of that is tax!!!!!
14:40 October 10, 2012 by MrNosey
Maybe we should let the Greeks earn some money by managing our fuel. Problem is, they'd probably tell us we have a billion liters of the stuff when in fact there'd only be half that amount available after they'd done some crooked deal with another country and pocketed the money in a Swiss bank but still be charging us for looking after the whole amount.
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