Bad news for drivers: After an almost historic low, fuel prices are rising sharply again. The reason for this is the fragile situation in the Middle East.
As the ADAC in Munich announced on Wednesday, diesel and gasoline each made “a sharp upward price jump” after falling to their lowest level in three years the previous week. According to the automobile club, the reason for the increase is the rise in crude oil prices as a result of the “renewed escalation in the Middle East”.
According to the information, a liter of E10 petrol recently cost 1.673 euros per liter on a nationwide average, 4.2 cents more than a week ago. For diesel, the price jump was somewhat larger at 5.5 cents to 1.584 euros per liter.
Barrel prices peak at over $80
“The trigger for the sharp increase is the noticeably higher crude oil prices since last week,” explained the ADAC. While a barrel of Brent crude cost $74 a week ago, the price has since climbed to over $80. It is currently at $77. The auto club cited “concern about a further escalation and expansion of the conflict” in the Middle East as the reason for the increased oil prices.
Source: Stern
