Building on a cartel investigation into price surges, the German government plans to limit gas stations to one daily gasoline and diesel price increase, following Austria's model, while also releasing national oil reserves to ease costs driven by the Iran war.
Following Federal Economics Minister Katherina Reiche's earlier announcement of a cartel law review into sharp fuel price rises from the Iran war, the government is advancing new measures. Reiche stated that gas stations will be restricted to one price increase per day for gasoline and diesel, while reductions can occur anytime. This mirrors Austria's policy, extended to 2028, limiting hikes to three times weekly.
Austrian Economics Minister Wolfgang Hattmannsdorfer cited war-related surges—gasoline up 14%, diesel 25%—justifying the limits to curb 'extreme price jumps.' Reiche noted prices rise like a 'rocket' on higher crude costs but fall slowly otherwise, requiring changes to cartel law possibly via ordinance.
Critics include ADAC's Christian Laberer, who warns oil companies may preemptively hike prices higher, and economist Veronika Grimm, who calls it ineffective against refinery issues but harmless. Lower Austrian prices stem largely from taxes.
Reiche also plans to release national oil reserves in response to the IEA's request for 400 million barrels from members. 'Germany stands by mutual solidarity,' she said. Cartel Office head Andreas Mundt continues probing refineries and wholesale for distortions.
