Bad news for drivers with diesel vehicles. The national average price for a litre of diesel in Germany has risen over 1,60 euros for the first time. Prices for the fuel continue to get higher as the price of oil rises.
Drivers of diesel cars might have been noticing their wallets getting lighter recently, as the price of the fuel continues to soar. For the first time, the average nationwide cost of a litre of diesel has risen over 1,60 euros in Germany. This was announced by ADAC, Europe’s largest motoring association.
The association, which is based in Munich, revealed that on Tuesday the nationwide daily average price of diesel was 1,601 euros per litre. This is 1,6 cents more than a week ago, and almost 37 cents more than the average monthly price of diesel in January 2021.
The price of E10 premium petrol is also following a similar trend. Currently, it costs 1,672 euros a litre. This is 1,7 cents more than a week ago and 32 cents cheaper than it was back in January 2021. However, the current cost of E10 petrol is still a good 3,7 cents cheaper than the all-time high recorded in 2012.
The price hike for diesel and E10 fuels can be attributed to rising oil prices. Crude oil price indicators WTI and Brent Crude hit seven-year highs on Wednesday, with the rising prices being largely blamed on political unrest in Kazakhstan and reduced supply due to low production. At the same time, demand has slowly been increasing towards pre-pandemic levels, despite the recent surge in coronavirus infections.
However, fuel prices did fluctuate last year. Diesel reached an all-time high in autumn, while Super also recorded high prices. Prices did fall again towards the end of the year but have since been rising.
A survey conducted by T-Online for the Federation of Consumer Organisations found that many Germans have stopped using their cars due to high fuel prices. 40 percent of respondents indicated that they are leaving their cars at home and opting for other methods of transportation like public transport.
23 percent said they are making savings elsewhere, 14 percent were considering buying an electric car and 7 percent wanted to get rid of their car completely. However, a quarter of respondents did suggest that they would not alter their driving behaviour in response to the price of fuel.