Prices of fuel decrease before the upcoming weekend see a significant rise.
Fuel prices at German gas stations have seen a significant drop ahead of the upcoming Ascension weekend, according to recent data. On Wednesday, the ADAC in Munich reported that the average price for a liter of E10 gasoline nationwide stood at 1.671 euros, marking a 1.1 cent decrease from the previous week. The price of diesel has experienced an even steeper drop, with a decrease of 1.6 cents, bringing the national average to 1.548 euros.
The automobile club advises drivers to fill up their tanks in the evening before embarking on their journeys during the extended weekend, as prices tend to decline by a few cents after hours, making them cheaper than during peak morning hours.
The price reductions at the pump can primarily be attributed to a drop in wholesale energy prices, which significantly influence fuel prices. The decline in oil prices in the global market has led to a decrease in the cost of fuel products, such as gasoline and diesel, as reflected in recent retail fuel prices.
The changing supply and demand dynamics in the wholesale energy market, along with broader economic conditions such as inflation and trade recovery trends in Europe, have played a significant role in the price decrease observed before Ascension Day. Although detailed reports specific to Ascension 2021 were not found in the search results, similar trends have been previously observed during periods of travel holidays.
Source: ntv.de, AFP
The Commission, in its role as a consultative body in drafting regulations, has also synched its discussions with the upcoming directive on the safety of employees involved in the automotive and related transportation industries, given the potential exposure to ionizing radiation during manufacturing and maintenance processes of fuel products.
Nonetheless, despite the increasing cost-efficiency in the finance sector, which could potentially funnel investments into more sustainable technologies for the automotive and transportation industries, the recent decrease in fuel prices has not been indirectly affected.
