The price of E10 premium gasoline hit an all time record high in Germany on Wednesday following escalating attacks and counterattacks between the United States and Iran.
The price of a litre rose to €2.215 on a nationwide daily average, surpassing the previous record of €2.203 from March 2022, the ADAC announced on Thursday.
At €2.215 per litre, a full tank in most German cars costs between €90 and €155, depending on the size and class of the vehicle.
For a compact car with a 40 litre tank, the total cost to refuel would be €88.60. For a large SUV with a 70 litre tank, the cost to refuel would be €155.05.
READ ALSO: How to save money on fuel in Germany as prices hit all time high
Roller coaster fuel prices
Fuel prices in Germany spiked in April this year due to major supply disruptions caused by the US and Israel's attacks on Iran, and the escalating regional war which followed.
In the months that followed fuel price updates made constant headlines and German leaders scrambled to try and limit fuel costs and inflation, including with a tax cut and a rule limiting price changes at the pump.
Then, fuel prices came down as diplomatic talks between the US and Iran seemed to offer a plausible route to the end of the conflict.
But recently US attacks on Iran have escalated again, and have been met with counterattacks. The recent escalation has driven crude oil prices up again.
In Germany, low water on the Rhine has also had an effect on prices, as it increased transport costs. Around 15 to 20 percent of Germany's total refined gasoline is transported directly on the Rhine River.
READ ALSO: Parts of Germany's Rhine becoming unnavigable as water levels drop
E10 is the cheapest common type of gasoline in Germany. As a rule, it is five to six cents cheaper than Super E5, which may contain less biofuel.
Previously, Germany's last highest E10 petrol price record was set on March 14th, 2022 following Russia's invasion of Ukraine, the outbreak of war there and the resulting energy market panic.
Note that these are nominal price records, or a record in the highest euro figure. Adjusted for inflation, gasoline has been more expensive in the past than it is today, for example in 2012.
With reporting by DPA.
Comments