Car - ADAC: Petrol price nears annual low
The price of crude oil continues to fall, and fuel prices are following suit. According to ADAC, diesel is currently as cheap as it was last in July, while petrol is even "at its lowest level since mid-January". Compared to last week, the price has fallen by a good two cents in each case: a liter of Super E10 costs an average of 1.73 euros in Germany, diesel 1.715 euros, the motorists' club announced on Wednesday.
The main reason for the fall in fuel prices was the continuing fall in crude oil prices. At 76 US dollars per barrel for North Sea Brent crude, they reached their lowest level since July. Doubts as to whether Opec producing countries will actually cut their production are putting pressure on prices. Added to this is the expected increase in supply from non-Opec countries such as the USA. The American Petroleum Institute reported rising inventories on Tuesday evening.
Although the state collects 20 cents less energy tax on diesel than on petrol, diesel is only just under two cents cheaper. "Recently, however, the demand for heating oil increased noticeably, which keeps diesel as a similar product at a relatively high price level," explained the ADAC.
It advises drivers to fill up in the evening between 8 and 10 pm, or between 6 and 7 pm. Filling up in the morning usually costs a few euros more.
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- Despite the lower energy tax for diesel, the price difference between diesel and petrol is minimal for German consumers, as the demand for heating oil has kept diesel prices somewhat elevated.
- The price of Super E10 at filling stations in Germany has dropped significantly, now averaging 1.73 euros per liter, thanks in part to the ongoing fall in crude oil prices.
- With diesel costing an average of 1.715 euros per liter, consumers in Munich and other parts of Germany are now paying less for fuel than they did in July.
- The decrease in fuel prices has been largely driven by the decrease in the price of crude oil, which recently reached its lowest level since July at 76 US dollars per barrel for North Sea Brent crude.
- Despite doubts about Opec's intentions to cut production, and the expected increase in supply from non-Opec countries like the USA, fuel prices in Germany continue to trend downward.
- The American Petroleum Institute reported rising inventories of oil on Tuesday evening, also contributing to the overall decrease in fuel prices.
- Drivers looking to save money on fuel in Germany should consider filling up in the evening between 8 and 10 pm or between 6 and 7 pm, as this tends to be cheaper than filling up in the morning.
Source: www.stern.de
