Currently, the expense associated with obtaining fuel has reached unprecedented lows.
Drivers can celebrate lower fuel prices at their next fill-up spot. Fuel costs have reached the cheapest level of the year so far. The primary factors behind this decrease, as we've seen many times, are influenced by the political landscape in the Middle East and China's economic condition.
The cost of a liter of Super E10 fuel has fallen to 1.715 euros, which is a 1.8 cent decrease from the previous week. It hasn't been this affordable since New Year's Eve. Similarly, diesel is also cheaper than last week, currently priced at an average of 1.59 euros per liter, marking a 1.3 cent reduction and the lowest price point since June 2023.
The contributing elements to this price drop include a decrease in the crude oil price and a stronger euro in comparison to the US dollar. A barrel of Brent crude oil is now selling for around 77 US dollars. The euro, meanwhile, is at a yearly high of 1.11 US dollars.
Fuel prices have continued to decrease following estimates suggesting an increase in US oil reserves and optimism surrounding potential resolutions arising from mediators' visits to the Middle East. China's economic slowdown, also placing strain on demand, is another factor according to analysts.
The ADAC advises motorists to fill up in the evening, as prices are lowest between 7 and 8 pm and 9 and 10 pm. Prices tend to be 6 to 7 cents higher in the early morning around 7 am. Service stations along motorways generally charge around 40 cents more per liter for fuel compared to off-motorway stations, as found in a recent ADAC survey.
The decreased fuel costs have led to a significant decrease in the price of the fuel tank's contents. With the fuel tank now filled at lower prices, drivers can significantly extend their driving range.
