Germany probes fuel market as Middle East conflict drives prices up 50%
Germany's Economy Minister Katharina Reiche has launched an antitrust review of the fuel market. The move follows sharp price increases since the outbreak of the Middle East conflict. Opposition leaders are now pressing for swift action on the issue.
Fuel costs have risen steeply in recent weeks. Gasoline prices in Rotterdam jumped by 12 cents per litre, a 17 percent increase. Diesel saw an even sharper climb—up 26 cents per litre, nearly 50 percent higher than before the conflict. Oil prices have also surged by about 20 percent, reaching around $84 per barrel.
A previous antitrust investigation in 2022 found the fuel sector highly transparent. However, that probe led to only minor policy tweaks. This time, Minister Reiche is working closely with the Federal Cartel Office to assess the situation.
The Left Party has demanded faster results. Parliamentary group leader Sören Pellmann expects a decision by early next week. Reiche has ruled out a state-subsidised fuel discount, unlike previous interventions.
The review aims to address rising fuel costs tied to geopolitical tensions. No immediate price relief measures are planned. The government's findings will determine whether further steps are needed.
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