Before discount decision: The next trend reversal is emerging in fuel prices
Compared to the records of last week, petrol and diesel have become significantly cheaper. However, a turn upwards is emerging in the morning.
The upcoming decision on the fuel discount is set to coincide with a change in the price of gasoline, signaling the start of a new trend. Although super gasoline and diesel were cheaper once again in the federal average daily price on Wednesday, an upward trend was evident in the afternoon of Wednesday and the morning of Thursday.
Rising crude oil prices may be responsible for the increasing fuel prices. Even though prices slightly dropped on Wednesday, they were 0.2 cents lower than on Tuesday in the federal average price per liter of super E10 fuel, and diesel prices dropped by 1 cent to 2.418 euros per liter. Compared to their record lows from last week, fuels were 4.9 and 5.3 cents cheaper.
Despite this, fuel prices were higher than on Tuesday afternoon, as reported by "Tankerkönig". This trend continued until midday, and the ADAC also reported significantly higher prices a day later on Thursday morning, at 10:00. Prices for super E10 increased by 1.8 cents, and for diesel by 2.2 cents. Due to the volatility of prices, this trend could quickly reverse.
The Tank rebate, set to be approved by the Bundestag and Bundesrat on Friday, amounts to approximately 17 cents for October, November, and December. However, it is controversial, with even many economists joining the chorus of critics, including social organization VdK, who call it a "wrong approach". VdK president Verena Bentele told Deutsche Presse-Agentur that government money should not be invested in the profits of oil companies.
According to Ifo Institute, Monopoly Commission, and Federal Cartel Office, the last Tank rebate in May and June did not reach households with low incomes who need relief. Bentele called for a mechanism for direct payouts, such as the one being prepared in the government. She also advocated for a reduction in the value-added tax on fruits, vegetables, and legumes.
Entitlement to relief should be extended to low-income families with high rents, people with low earnings, those receiving basic income or care allowance, and their relatives. Meanwhile, Niedersachsen's Minister-President Olaf Lies (SPD) supports a possible national-level excess profit tax if needed. Although the EU Commission has initially rejected the idea, EU Economic Commissioner Valdis Dombrovskis noted that member states could implement such a tax, emphasizing the need for fairness and the principle that "not just a few can profit while everyone pays".
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