Discount for tanks: fuel prices are rising again – economy

Prices rose again on the second day of the fuel tax cut. (symbol photo) Photo: dpa / Christophe Gateau

On the first day, the reduction in fuel taxes did not fully reach the drivers. On the second day, prices go up again.

Only part of the fuel tax relief goes to citizens. Fuel prices rose again on Thursday, according to the ADAC. Both the road 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 traffic, the premium E10 gasoline cost the country’s average € 1,896 per liter on Thursday at 10.50am. That’s 3.7 cents more than 24 hours earlier. The diesel cost 1,951 euros, which is 3.3 cents more. Tax relief – 35.2 cents per liter for super petrol and 16.7 cents for diesel – the consumer did not fully collect on Wednesday. Instead, the nationwide average daily price fell by only 27.3 cents for the E10 and 11.6 cents for diesel.

According to ADAC experts, the prices are clearly too high

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 currently about 30 cents apart.

Laberer is concerned that this loophole will not disappear soon. “Prices have to drop. But there is a risk that this may not happen. Especially now before the wave of journeys on the day of Pentecost where many people are forced to fill themselves up. “

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.

Prices often fluctuate by more than 20 cents a day

In view of the price expansion on Wednesday, Mundt said, “These are not yet 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 his office, he called on drivers to compare gas prices using a pricing app. “During the day, prices in the same city often fluctuate by more than 20 cents. Usually you refuel in the early evening and at one of the cheaper gas stations.

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.

Oil companies can benefit from tax cuts

Economist Monika Schnitzer fears that oil companies may profit from tax cuts despite falling prices at gas stations. “Based on the experience so far, especially with the VAT cut in 2020, I believe the risk is high,” said economist Augsburger Allgemeine. “Even if a higher percentage of the tax reduction passes during this time than it did two years ago, the additional profit for companies due to an incomplete carry-over 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 of the VAT cut during the Corona crisis was passed on to diesel customers and 40 percent to gasoline customers, said the head of the Center for European Economic Research, Rheinische Post.

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