Record fuel price hike prompts Berlin to act

The German authorities are considering introducing a price cap on fuel in an effort to reduce prices.

TodayPress TV reports, citing Bild, that the information was provided by sources familiar with the matter.

According to the report, the German government is discussing a 14-euro-cent reduction in the energy tax on fuel starting October 1. As value-added tax would also decrease as a result, the price of one litre of fuel would fall by a total of 17 cents.

In addition, the government plans to introduce a limit on fuel prices no later than January 1, following the example of Belgium and Luxembourg. However, it is not yet clear exactly how this model would work in Germany.

It should be recalled that the average price of diesel in Germany has risen to a new record of €2.471 per litre nationwide. The previous record was €2.453 per litre.

Aysel Matlab