Refueling in Germany will soon be 50 cents per liter cheaper than with us. The petrol tax will then be reduced by 30 cents per liter. If prices on the world market remain stable, a liter of Euro95 will cost €1,72. That is almost 50 cents less with our eastern neighbors than in the Netherlands. Diesel is also getting cheaper in Germany, but not as much as petrol. Diesel excise duty falls by 14 cents. The reason for the price drop is therefore the excise tax discount that Germany will introduce in just over a week.

Due to the high prices, the purchasing power of many citizens is under severe pressure. To encourage people to use public transport more often, a monthly ticket for regional and local public transport will only cost 9 euros from June. The government is allocating 2,5 billion euros to compensate transport companies for the lost income.

price drop

The oil price changes almost daily. The prices at the pump therefore change almost daily for all fuels. Price differences of one cent from one day to the next are quite normal at all gas stations. As long as the war in Ukraine continues, we should not expect sharp price falls. Prices on the wholesale market are currently continuing to soar. The price for a barrel of Brent oil, the benchmark for oil from Africa, Europe and the Middle East, is currently hovering around $111. A barrel of WTI oil, the benchmark for the American oil market, sells for about $112. 

An end of the war in Ukraine could bring prices down at the pump. We must not forget that the European Union wants to completely stop importing Russian oil and oil products by the end of this year. Such an oil boycott is likely to push prices in the European market further.