One day after the tax cut: fuel prices are rising again – the economy

– On the first day, the reduction in fuel taxes did not fully reach the drivers. On the second day, prices go up again. The economist sees the winners in the oil companies.

Only part of the fuel tax relief goes to citizens. Fuel prices rose again on Thursday, according to the ADAC.

Both the traffic club and the Federal Antimonopoly Office still see room for discounts at gas stations. “Actually, it should go further, but instead prices are now rising,” ADAC expert Christian Laberer criticized.

According to road traffic, the premium E10 gasoline averaged € 1,885 per liter nationwide at 2:20 PM on Thursday. That’s 3.2 cents more than 24 hours earlier. The diesel cost 1.934 euros, 2.8 cents more.

The tax credit – 35.2 cents for a liter of premium gasoline and 16.7 cents for diesel – did not fully reach the consumer on Wednesday. Instead, the nationwide average daily price fell by only 27.3 cents for the E10 and 11.6 cents for diesel from Tuesday to Wednesday. “Much of the consumer allowance seems to be going to the oil industry now,” said Laberer.

“Fair” price for Super E10 “around 1.60 per liter”

Laberer believes that the current growth is not justified – especially as the price of oil has fallen recently and more and more fuels are being delivered to petrol stations at a reduced price. Overall, the prices are also clearly too high: even before the tax cut, the E10 was, in his opinion, about 20 cents too expensive. “For the Super E10, a fair price would have to be around 55 cents below Tuesday’s price,” he adds. “So around 1.60 a liter. We are about 30 cents apart at the moment. “

Laberer is concerned that this loophole will not disappear soon. “Prices have to drop. But there is a risk that this may not happen. Right now, before the wave of travels to Pentecost in which many people are forced to fill themselves up. “

The Federal Antimonopoly Office wants to take a closer look

As Andreas Mundt, president of the Federal Antimonopoly Office, Andreas Mundt, said on Thursday on Deutschlandfunk, he wants to keep a close eye on the oil companies. The prices are very transparent. This has the advantage that “under certain circumstances, we may also ask very uncomfortable questions.” Moreover, the Cartel Office wants to closely monitor the developments at the refining and wholesale levels.

Given the price development on Wednesday, Mundt said: “These are not the numbers the tank discount fully allows, but of course we are already seeing a significant reduction in fuel prices compared to the day before.” At the same time, in a message from his authority, he called on drivers to compare fuel prices using a pricing application. “Prices often fluctuate by more than 20 cents in the same city during the day. They usually fill up in the early evening and at one of the cheaper gas stations. ‘

The promotion lasts until the end of August

The tax reduction should apply until the end of August. In this way, the federal government wants to ease the burden on consumers in the face of soaring energy prices. However, it works not only at the pump, but also in tanks and refineries. Gas station shares purchased before Wednesday are therefore still subject to a higher tax.

Economist Monika Schnitzer fears that oil companies may profit from tax cuts despite falling prices at gas stations. “After past experiences, especially with the 2020 VAT cut, I believe the risk is high,” said economist Augsburger Allgemeine. “Even if more tax cuts are carried over to this time as a percentage than two years ago, the additional profit for companies due to an incomplete carry forward in absolute euro amounts could still be very high.”

According to their calculations, oil companies would withhold 40 percent in the summer of 2020. tax cuts from VAT reductions, said a member of the Advisory Council of the German government. This time, however, gas stations were closely watched.

Economist Achim Wambach expects noticeable savings for consumers as a result of tax cuts. Research has shown that 80 percent. VAT reductions during the crisis Corona went to customers with diesel engines, and 40 percent. to gasoline customers – said the head of the Center for European Economic Research “Rheinische Post”.

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