Home GermanyOil prices on the brink of another crash: Global oil glut approaches – implications for diesel and heating oil

Oil prices on the brink of another crash: Global oil glut approaches – implications for diesel and heating oil

by OmarAli
Oil prices on the brink of another crash: Global oil glut approaches - implications for diesel and heating oil

In Germany, the national average price for a liter of diesel on Monday morning is 1.89 euros per liter, up 18 cents from Monday a week ago. Average daily diesel prices were €1.93 per liter on Sunday and €1.95 per liter on Thursday, some 17 cents higher than Monday.

A liter of E 10 gasoline on Monday morning costs a national average of 1.97 euros, which is 17 cents more expensive than on Monday a week ago. Average daily prices for E10 gasoline on Sunday amounted to 2.0 euros per liter, which is 16 higher than on Monday a week ago. Prices for both fuels have risen sharply since fuel rebates ended, although oil prices have fallen further recently.

The fuel discount, that is, a reduction in the energy tax, was in effect from May 1 until the end of June. Including the applicable sales tax portion, the exclusion results in an additional burden of 17 cents.

U.S. gasoline prices traded at around $2.90 a gallon, just above their lowest level in more than three months, amid concerns about a possible global oil glut. In the UK, diesel prices recorded a historic monthly decline in June, another signal that price pressures in distillate fuel markets are easing.

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