Fuel prices are exploding: Conflict in the Middle East is hitting drivers hard!

Fuel prices are exploding: Conflict in the Middle East is hitting drivers hard!

The current developments in the Middle East not only bring with them geopolitical tensions, but also have a significant impact on fuel prices in Germany. Anyone traveling in these chaotic times will quickly notice that refueling has recently become more expensive. How Northern Courier reports, May 2023 was still a fairly cheap month for drivers, but now the conflicts are driving up prices.

The ADAC found that the average price for Super E10 in May was 1.65 euros per liter, which was around 13 cents less than at the beginning of the year. There was a reduction of around 20 cents for diesel compared to January 2023. But since June 13th, after the military clashes between Israel and Iran, prices have risen again. In cities like Ludwigslust and Schwerin the costs have risen particularly significantly, with a fuel price for Super E10 of 1.70 euros in Schwerin and 1.68 euros in Ludwigslust, like that ADAC explained.

Price increases in focus

The price shock continues in Hagenow: While Super E10 costs 1.72 euros per liter here, diesel drivers even have to pay 1.64 euros. The nationwide average price for Super E10 is currently 1.70 euros, an increase of 4 cents compared to the previous week. These circumstances make refueling more expensive than ever and have many drivers wondering when the best time to refuel would be. The ADAC recommends filling up in the evening between 7 p.m. and 8 p.m., as fuel prices are cheapest here.

The price differences don't just depend on the time of day; Costs are often higher in rural areas because there are fewer gas stations and less competition. Voices from the industry point to local competitive conditions that further exacerbate these differences.

Geopolitics sets the tone

The current situation is further complicated by travel warnings from the Foreign Office for the region. German nationals are being asked to leave Iran and there is a partial travel warning for countries such as Jordan and Lebanon. These developments also have an impact on air traffic: The Lufthansa Group has suspended flights to Israel and Tehran until the end of July ADAC reported. The geopolitical tensions could also have long-term effects on inflation.

Crude oil prices rose sharply after the military conflict: the price of a barrel of Brent rose from 69 to over 74 US dollars. ADAC spokesman Andreas Hölzel emphasizes that consumers will increasingly have to expect higher fuel prices, as the oil companies will quickly pass on the increased prices to end consumers.

Drivers should do their research and probably fill up this week to avoid paying more than necessary for their fuel. The rapid rise in prices could bring with it some unpleasant surprises.