Business · Energy & Commodities · 8 hrs ago

German E10 petrol falls below €2 per litre on daily average

German E10 petrol falls below €2 per litre on daily average

Germany’s nationwide daily average for E10 fell below €2 per litre on Sunday, reaching €1.996, according to the ADAC.

That was 7.6 cents less than a week earlier, while diesel fell by 4.1 cents to €2.241 per litre.

E10 has mostly become cheaper over the past month, but diesel’s price was almost unchanged from a month earlier.

Diesel now costs 24.5 cents more than E10, among the largest gaps on record.

Normally, diesel is cheaper than petrol because it is taxed at a lower rate, but it is more vulnerable to supply disruptions and Germany imports more finished diesel fuel.

A current tax cut reduces taxes on both fuels by about 17 cents per litre.

Monday’s early indicators pointed slightly lower, with hopes for a diplomatic solution to the US-Iran war also weighing on oil prices, but a lasting price drop is not yet clear.

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