Fuel prices are not always directly related to crude oil prices. And the greedy state is not the driver of inflationary development either.
“Five marks for the liter sprit“ – the former horror scenario for many German drivers is now almost reality. Prices of 10 euros and more have been called for for weeks both for Super E2 and for diesel. What are the reasons for the persistently high level? And what brings the short-term tax relief?
Everything gets more expensive because of that
The most obvious reason for the high prices is the Ukraine war, which has led to increased demand on the one hand and reduced supply at the same time. Not least because the mineral oil companies have reduced the import of diesel and also crude oil from Russia on their own initiative, as the industry association "en2x" announced shortly after the beginning of the war. Both factors together have led to sharply increased product prices on the world market and, as a result, to higher gas station prices, according to a statement. This applies to fuels from domestic production as well as to fuels manufactured and imported abroad.
In fact, shortly after the Russian invasion began, the price of crude oil skyrocketed. After that, things went downhill at first, but prices are now back at the level they were at the beginning of March. Mainly because demand is expected to increase after the end of the lockdowns in China. The currently negotiated European oil embargo against Russia and the start of the vacation-related "driving season" in the USA are added to this. As a result, not only crude oil is in short supply, but also the end products such as petrol and diesel due to limited refinery capacities worldwide.
Old fuel at the gas stations
But the fuel price at German gas stations does not depend directly on the daily price of crude oil. Consumer representatives such as ADAC have been criticizing this decoupling for a long time and demand that it be passed on to customers when prices fall. In this context, the industry likes to point out that fuel purchased at the old price is still stored in the tanks at the petrol stations. This is also the reason why the energy tax cut that will take effect on June 1 will probably not lead to an acute drop in the price per liter. According to this, it will only decrease if the companies successively refill their stocks with tax-privileged fuel - i.e. gradually.
The amount that drivers pay at the petrol pump is distributed among the pots of several actors. The pure product costs make up more than half of the price for petrol and diesel: In addition to the price of crude oil, these include the costs for transport, further processing, warehousing, administration and sales. In addition, there are the CO2 taxes of the mineral oil companies and their profit. Taxes make up the rest of the price. Energy and VAT add up to 39 percent for diesel and 48 percent for petrol.
Fill up instead of eating out
However, the popular accusation that the state would fill its pockets with rising fuel prices is not true. Because the energy tax rate is fixed and does not depend on the price. It is 47,04 cents for diesel and 65,45 cents per liter for petrol. Although revenue from VAT is increasing, from the point of view of the tax authorities this is often a zero-sum game: anyone who spends their money when filling up does not spend it on eating out or other consumption.
In order to relieve consumers, at least in the short term, the government has decided on a three-month energy tax break. This amounts to 35,2 cents per liter of petrol including the VAT effect, and 16,7 cents for diesel. It remains to be seen to what extent motorists will benefit from this. The market transparency unit of the Federal Cartel Office should ensure that the oil companies do not pocket the difference. Not an easy task, experts believe.