Current fuel prices have reached unprecedented lows, breaking previous records.
Drivers can now unwind and eagerly anticipate their next pit stop at the fuel pump like never before. Fuel costs have touched a fresh annual low. The primary reason, as usual, is the geopolitical scenario in the Middle East and the economic condition of China.
According to ADAC, motorists are now shelling out an average of 1.715 euros per liter of Super E10 - that's a decrease of 1.8 cents compared to the previous week. Fuel was cheaper on New Year's Eve. Similarly, diesel has also seen a decrease in cost: a liter now costs an average of 1.59 euros - a decrease of 1.3 cents from the previous week, and the least expensive since June 2023.
The primary catalysts for the decreasing fuel prices are a fall in oil prices and a stronger euro relative to the dollar: Brent crude oil currently costs roughly 77 US dollars per barrel. The euro is at a yearly high of 1.11 dollars for every euro.
Oil prices have been on a downward spiral lately, with analysts suggesting that US oil reserves have grown and that the Middle East peace talks have boosted optimism. China's economic instability, which is dampening demand projections, is also a contributing factor, experts suggest.
ADAC continues to advocate for motorists to fill up during the evenings, as prices are lowest between 19:00 and 20:00 and between 21:00 and 22:00. "The prices are six to seven cents higher in the mornings around 7:00." Service stations along the motorway are pricey: a recent ADAC survey shows that fuel costs around 40 cents more per liter at these stations than off the motorway.
The start of the year has seen a significant decline in fuel costs, with New Year's Eve being one of the cheapest days for fuel in recent times. Experts attribute this trend to the ongoing fall in oil prices and the strengthening of the euro against the US dollar.
