Consumers feel it when they order heating oil, on their electricity bills or at the petrol pump: energy prices are rising sharply in Germany.
Households in Germany have to spend significantly more on energy than they did a year ago. According to calculations by the comparison portal Verivox, the costs for heating, electricity and fuel have risen by 18 percent in the past twelve months.
In a model household with a heat requirement of 20,000 kilowatt hours, electricity consumption of 4,000 kilowatt hours and a mileage of 13,300 kilometers per year, this amounts to additional costs of 618 euros. In July 2020, this amount of energy cost 3422 euros per year, in July it was 4040 euros.
“The last time there was a similarly strong price increase was in 2005, when hurricane Katrina drove oil prices to over 70 dollars a barrel for the first time,” said Thorsten Storck, energy expert at Verivox. This time, too, the costs for heating oil and fuels have climbed particularly sharply.
According to Verivox, heating with oil has risen by a good 56 percent over the year. Compared to the low in September last year, heating oil was even 81 percent more expensive, according to the comparison portal Check24. At that time, 2000 liters cost an average of 770 euros, in July it was 1392 euros.
At the petrol pump, drivers had to spend 24.3 percent more on refueling on average in July. According to the ADAC, the price increase continued in August despite lower crude oil prices. In contrast, the price increase for electricity is comparatively small. Here Verivox determined a premium of 4.8 percent.
Rising energy prices are the main driver of the inflation rate, which rose to 3.8 percent in Germany in July, the highest level for almost 30 years. For household energy and fuels, the Federal Statistical Office had determined a price increase of 11.6 percent compared to the same month last year. Last year, however, consumers benefited from falling energy prices. By January 2021, the figures from the Federal Statistical Office showed a decline.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
