Fuel prices in Germany have risen sharply due to the Iran war. Federal Economics Minister Katherina Reiche has announced a cartel law investigation into the price surges. Finance Minister Lars Klingbeil warns oil companies of consequences if they exploit the situation.
Prices for gasoline and diesel at German gas stations have risen significantly due to the military escalation in the Middle East, particularly the Iran war. The increase is driven by higher oil prices, affecting heating oil and gas as well.
Federal Economics Minister Katherina Reiche (CDU) has announced a cartel law review of the price jumps. "We will check that a situation is not being exploited that is reflected in the markets, but not to this extent," Reiche said in the Table.Briefings podcast. She is in intensive exchange with the Federal Cartel Office.
Federal Finance Minister Lars Klingbeil (SPD) threatened oil companies with consequences if they profit from the Iran war. "So there must be no rip-off now, and politics must of course act and proceed clearly and consistently," the SPD leader explained in the ZDF spezial program. He had asked Reiche to quickly review possible measures.
The coalition factions in the Bundestag have established a working group to analyze the rising prices for fuel and energy and discuss options with the government, as the German Press Agency dpa learned from faction circles.
The federal government does not plan a fuel price cap, as introduced in 2022 after Russia's attack on Ukraine. "That is not on the agenda," Reiche said. The diesel price averaged 2.054 euros per liter nationwide on Wednesday morning at 7:15 a.m., according to the ADAC.
