Lates News

In response to the strong consumer resistance caused by the price increase due to the war, Germany has taken action to restrict the frequency of price adjustments at gas stations and strengthen anti-monopoly supervision. According to a document from the Ministry of Economy, gas station operators are only allowed to adjust gasoline and diesel prices once a day at noon, while price reductions can be made at any time. Violators will face fines of up to 100,000 euros (approximately 115,400 US dollars). The ruling coalition will also strengthen anti-monopoly enforcement by shifting the burden of proof from regulatory agencies to fuel suppliers operating in Germany. Companies will be required to prove their compliance with the rules rather than authorities proving their market abuse. These measures are in response to the oil price increase triggered by the war in Iran. This month, fuel prices in Germany have risen to over 2 euros per liter, prompting calls for national intervention from lobbying groups, politicians, and voters.