'Pumpers' profit margin increased'

‘German measure against high petrol price backfires on motorists’

De maatregel om benzineprijzen in Duitsland maximaal één keer per dag te verhogen, heeft nog niet voor lagere prijzen voor automobilisten gezorgd. Foto: Alexander Fedosov / Shutterstock

Germany’s new measure designed to lower petrol prices for motorists has backfired. Limiting price increases to once-a-day has actually made fuel more expensive. This reports the Telegraph on the basis of calculations by the Zentrum für Europäische Wirtschaftsforschung (ZEW).

According to the ZEW, which examined fuel prices, the profit margin on petrol has increased by 6 cents per litre since the measure was introduced on 1 April. The margin on diesel showed a highly variable picture during the survey period in early April, the newspaper writes .

Before the introduction of this measure, German petrol stations adjusted their prices several times a day, so price differences could reach more than 10 cents per litre within 24 hours. The new rule was supposed to give motorists more clarity and help them find the cheapest petrol station, on the one hand. On the other hand, the measure was expected to have a price-cutting effect, as price cuts were allowed at any time of the day.

The Allgemeiner Deutscher Automobil-Club (ADAC) warned in advance that petrol stations would lower their prices less often if they were not allowed to raise them again later in the day. According to the ZEW, the extent to which petrol stations increased their margins depends on local competitive conditions.

Excise duty cut

As a result of the war in the Middle East and rising fuel prices, Chancellor Friedrich Merz recently announced a new measure: an excise duty cut of 17 cents per litre on petrol and diesel, effective from 1 May. The cost of this is about EUR 1.6 billion.

In the Netherlands, the cabinet also announced last week a €1 billion support package to mitigate the impact of the war on citizens and businesses. Lower prices at the pump are not part of it.

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This article was automatically translated from the Dutch language original to English (British).

Author: Nina Koelewijn

Source: MobilityEnergy.com

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