JNow it’s official: inflation in Germany was 7.9 percent in May, the highest inflation rate since 1974. The Federal Statistical Office confirmed a corresponding initial estimate on Tuesday. At the same time, he shared the details: As a result, prices are rising across the board, but heating oil, natural gas and fuel are the three commodities with the biggest price increases in the past twelve months. Cooking oil also failed to keep up with a 38.7% price increase. The price of heating oil increased by 94.8%, by 55.2% for natural gas and by 41% for fuel.
No wonder gasoline prices in Germany are arousing heated emotions, are a topic on many talk shows, and are a concern for politicians of all kinds. Ideas range from a tax on excess profits to a tightening of the antitrust law to the dismantling of oil companies. After all, it has now been two weeks since the energy tax on fuels was reduced. But at least in the perception of many motorists, little of this has reached the consumer. The Super E10 costs 1.95 euros per liter on Mondays on a daily average, the diesel 2.041 euros per liter. There is not much evidence of some politicians’ announcement that fuel prices would drop “well below € 2”.