As geopolitical tensions persist in the Middle East, gasoline prices in Germany are nearing their highest levels ever recorded. The German Automobile Club (ADAC) reported that on Saturday, the average national price for premium "E10" gasoline reached 2.165 euros per liter. This price is just a few cents shy of the record high of 2.203 euros per liter set in March 2022.

Diesel prices also saw significant numbers, with an average cost on Saturday of 2.260 euros per liter, according to ADAC data. The current diesel price remains approximately 20 cents lower than its peak recorded in April of the previous year.

The "E10" gasoline variant is known to be the most economical among Germany's commonly used fuels, typically costing 5 to 6 cents less per liter compared to "Super E5," which contains a lower proportion of biofuel.

Fuel prices, particularly for diesel, have been on an upward trend over recent weeks and days. However, there were negligible changes noted when comparing prices from Friday to Saturday.

The German Automobile Club has projected that if current trends continue, the year 2026 could become the most expensive year for fuel costs, surpassing the previous record set in 2022.

This price pressure is largely attributed to ongoing conflicts involving Iran, which have driven up crude oil prices globally. Additionally, falling water levels in the Rhine River have further complicated logistics, increasing transportation costs for fuel delivery.

These escalating fuel prices have prompted calls for relief measures aimed at easing the financial burden on motorists. From early May until the end of June 2026, the German government implemented a temporary reduction in fuel taxes to curb rising costs. However, once this tax relief ended, fuel prices began climbing again.

Recently, German Finance Minister Lars Klingbeil, along with five European counterparts, proposed a new initiative: imposing a windfall tax on oil companies' profits. In a letter addressed to the Irish presidency of the EU Council, they advocated for a Europe-wide tax targeting companies benefiting from increased profits due to the conflict involving Iran.

Source: dpa