Status: 20.06.2022 14:20
About three weeks after the introduction of the tank discount, diesel costs more than it did before the tax cut. The Super E10, on the other hand, has gotten cheaper recently. However, there are clear price signals from the crude oil market.
Motorists have to pay more for diesel fuel than before the introduction of the tank discount on 1 June. At 2,054 euros per liter in yesterday’s national daily average, the price surpassed the value of May 31 this year, when a liter cost 2,044 euros. ADAC announced this today upon request. The tax relief of 16.7 cents per liter has now been completely consumed by the increase in prices.
Diesel had already reached the milestone on May 31 last Friday and passed it again for the first time on Saturday, as has now been announced. Super E10 costs 1,913 euros per liter on Sundays. Unlike diesel, gasoline has become cheaper in recent days.
Super E10 in less than 23.8 cents
The tax relief that applies from June to August is intended to relieve consumers in consideration of the high prices of fuels. Including VAT, this is 35.2 cents for premium gasoline and 16.7 cents for diesel. However, after the discount went into effect, prices never dropped completely. Yesterday, the Super E10 cost 23.8 cents less than the day before the tax cut, which, according to federal government calculations, will result in a loss of revenue of 3.15 billion euros.
The tax cut is still the subject of criticism. Recently, there have also been allegations that much of the measure will not benefit drivers, but the oil industry. “The tax cut ends up mostly with the oil companies and not enough with the drivers,” ADAC said, for example. The head of the German Institute for Economic Research (DIW), Marcel Fratzscher, also declared it bankrupt in reference to the dead effects of the oil companies.
Debate on the profits of the oil companies
After a comparison with prices in France, the ifo institute in Munich came to the conclusion that the discount for diesel has been passed on in full to customers and to a large extent for petrol. In the case of diesel, service stations would have given away 100 percent of the temporary tax cut of 17 cents per liter. In Super’s case, 85 percent of the tax rate was reduced by 35 cents.
The mineral oil industry referred to rising prices and purchasing costs. According to Minister Christian Lindner, even the Ministry of Finance is not officially aware of the unusually high profits made by energy companies from the controversial discount on tanks. “We can’t say at the moment,” the FDP leader recently told “Welt”. “Here at the Federal Ministry of Finance, we have no official knowledge that national oil companies have particularly high profit margins.”
The Federal Cartel Office is therefore examining the trend in fuel prices. However, the authority has repeatedly stressed that it cannot ban high prices per se. Federal Economics Minister Robert Habeck (Verdi) now wants to tighten antitrust law and give competition authorities more opportunities to intervene. Ultimately, the Cartel Bureau should also be able to dismantle companies if they have too much market power and also skim profits more easily.
Oil prices go down
After the start of the war in Ukraine, fuel prices in Germany had risen to unprecedented levels. According to data from the ADAC, diesel reached its previous high on 10 March with a national daily average of 2.321 euros per liter and on 14 March E10 with 2.203 euros. Both fuels then temporarily dropped below two euros in April, before a new upward trend began, interrupted only briefly by the tax cut earlier this month.
In view of high fuel prices, the Automobile Club advises motorists to keep an eye on gas station price fluctuations, sometimes large, within a day. Petrol and diesel are particularly expensive, especially in the morning. The price spike is usually in the morning after 7am, according to an analysis by the ADAC. The cheapest time to refuel is between 20:00 and 22:00. The difference between the high in the morning and the low in the evening is 16 cents for the diesel and ten cents for the Super E10.
However, developments on the oil market give hope for a slight drop in prices. A barrel (159 liters) of North Sea Brent cost US $ 112.61 at noon today, 49 cents less than on Friday. The price of a barrel of West Texas Intermediate (WTI) fell 18 cents to $ 109.38. Oil prices were already under pressure on Friday.
“The sharp drop in prices on Friday must be seen as a late reaction to recession concerns that have long weighed on the prices of other commodities,” said Commerzbank commodity expert Carsten Fritsch.