ADAC does not expect a new fuel price explosion
Drivers did not have to dig quite as deep into their pockets on average last year as they did in 2022. However, this is unlikely to have pleased many, as it was the second most expensive year for fuel since it was recorded. The ADAC is trying to look to the future with optimism.
Following the recent fall in crude oil prices, the ADAC does not expect any further significant increase in the price of petrol and diesel in the new year. The car club hopes that prices in 2024 will develop at a similar level to those last seen in 2023, the ADAC announced in Munich - provided that "no further serious problems or crises arise that lead to a significant increase in oil prices".
The German government increased the CO2 tax from 30 to 45 euros per ton at the turn of the year. According to ADAC, this means an increase of around 4.3 cents in the price of CO2 for a liter of petrol, and around 4.7 cents for diesel. However, this does not mean that the price of petrol at the pump will automatically increase by this amount. In addition to taxes and levies, crude oil plays a significant role in determining the total price, and prices also vary from filling station to filling station, regionally and according to the time of day.
According to the ADAC, filling up in the evening is cheaper on average than in the morning. Prices for petrol and diesel reached record highs in 2022, and fuel also remained very expensive for a long time last year. The ADAC spoke of the "second most expensive fuel year of all time". Towards the end of the year, however, premium petrol in particular became cheaper again. A liter of Super E10 cost an average of 1.716 euros nationwide in December, but over the year as a whole it was over seven cents more. Diesel was also slightly less expensive in December, costing an average of €1.695 per liter for the month, according to the ADAC.
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The ADAC's optimism regarding fuel prices in 2024 is mainly due to the recent decrease in crude oil prices, which should prevent a significant increase in the price of both gasoline and diesel. Despite the German government increasing the CO2 tax, the car driver might not see an immediate increase in the price at the pump, as several factors influence the total cost, including crude oil prices and variations between filling stations.
Source: www.ntv.de
