Bonn. Andreas Mundt, president of Germany's Federal Cartel Office, expects fuel prices for petrol and diesel to drop soon. The reason is falling crude oil prices following the ceasefire between the US and Iran.
Fuel prices in Germany have risen sharply since the start of the Iran war. Andreas Mundt, president of the Federal Cartel Office, faces criticism for not intervening. In an interview with Handelsblatt, he stated that short-term price interventions are not his agency's responsibility.
"We are not a price regulation authority that simply sets or lowers prices," Mundt said. The office cannot prevent price shocks but ensures that a lack of competition does not exacerbate them.
Following the drop in crude oil prices due to the US-Iran ceasefire, Mundt anticipates quick reductions at petrol stations. "Falling crude oil prices are a clear signal – and they should soon be reflected at the pump," he emphasized.
Mundt offers no full all-clear for drivers, however. He plans measures to bolster competition at fuel stations, including the "twelve o'clock rule," which will pay off for motorists.
