Wednesday, January 12, 2011

Fuel prices hit two-year high

German drivers are facing the country’s highest fuel prices since 2008, paying up to €1.529 per litre of “super” grade petrol, the ADAC motor club reported on Tuesday.

A spokesman for ADAC said he doubted that the high cost of gasoline was justified according to current oil market prices. The organisation plans to release the average price per litre on Wednesday.

A spokeswoman for the Association of the German Petroleum Industry (MWV) said the high price of petrol reflected changes on the world market such as the weakening euro, a rise in crude oil prices, a “powerful demand” from China, and the recent closure of the trans-Alaska pipeline.

In the face of rising prices the Auto Club Europa (ACE) encouraged the German government to review regulation possibilities such as those recently implemented by Germany's southern neighbour Austria. Since the beginning of the year petrol stations there may raise their prices just once per day at noon, though prices may be reduced at any time.

The Austrian model would create a “cost-reducing effect,” ACE leader Wolfgang Rose said.

“We want the daily multi-price changing to end,” he said.

To read more:

Source photo:

No comments:

Post a Comment