Why the increase in gas prices
Famous for its modern vehicles, Germany has surprised in recent weeks with skyrocketing gas costs – motorists need to shell out €2.13 for a liter of petrol ($8.92 per person). US gallons) when pumping. The news is even more severe for diesel, which, at €2.25/liter ($9.43/US gallon), is more expensive than gasoline for the first time in history regardless of subsidies. government. Jens Boysen-Hogrefe of the Kiel Institute is the aftermath of Russia’s invasion of Ukraine. for the world financial system advised DW. “That is causing suppliers to stockpile at high prices.” As a result, the cost of gas is also increasing. One thing that doesn’t seem right, however, is that just before the conflict began, the value of Brent crude was €85 per barrel; after more every week it exceeded 115€. As of March 17, the value of a barrel is just under €96. Converted to liters, the difference in value from the pre-war period amounted to € 0.03.Meanwhile, the value of the gas continued to cause a shock wave on the fuel pump with € 2.25. € for a liter of diesel, 0.55 € higher than three weeks ago. How does this calculation work? And who makes the big difference between the cost of crude oil and gas?
Decoding the value of fuel
Cash that drivers pay for gas refills is distributed to a number of events – oil carriers, suppliers, refineries, fuel pumps, and the state. The exact value of the product accounts for more than half of the value. That entails the purchase value of crude oil in addition to the cost of transportation, additional processing, storage, management and distribution. Add to that the CO2 tax paid by the oil companies and their earnings. Read more: why do my teeth hurt when I eat candy | The federal government’s tax agency also eliminates a large portion of refueling – the tax is about 39% on gas bills for diesel and 48% for gasoline. However, it is less likely for the state to further profit from excessive gas costs, which is because energy tax fees are attached and will not fluctuate with gas value. For diesel, it is 47.04 cents, for gasoline 65.45 cents per liter. “It is possible that one or two people will refuse to visit a restaurant, which means that the restaurant owner will not pay income tax and value added tax on it.” Gasoline owners also don’t benefit from overfilling. “The relatively tight margins there, including the fact that they seem to advertise much less due to the greater cost of gas may imply that less prospect wants to buy an extra bar,” said Boysen-Hogrefe. sweet. “In that respect, high fuel prices really aren’t good news for gas pumps.”
Geopolitical uncertainty raises costs
Germany imports almost all the crude it wants and 41% of the diesel it uses. “We have to thank Putin for the high price, of course,” said economist Manuel Frondel of the RWI Leibniz Institute for Financial Analysis. Why did the photo booth freeze when I wrote, “There are long-term contracts with Russia whereby all deliveries are paid at the prices specified in these contracts,” Frondel said. refineries on finding out who covers the difference between the cost of crude oil and gas. German economist Justus Haucap thinks they could be a good reason for the high cost of petrol and diesel. tweets in German. He says it cannot be dominated, however there are different causes that can be achieved. Alexander von Gersdorff, spokesman for Fuels and Vitality Enterprise Affiliate, said the shortage of petroleum goods is achievable when a ban on oil and diesel imports from Russia is expected in the near future. from oil costs. “Petroleum companies (…) are steadily reducing their oil and diesel imports from Russia – on their own initiative, without sanctions,” he wrote in response to a question from DW. One-third of diesel imports in Germany come from Russia. “It is because of geopolitical uncertainty that product prices have risen and remained high, even though the price of North Sea Brent has fallen back,” von Gersdorff said. Speculation: “Refineries could have tightened supply today if necessary (by raising prices) and filled barrels in the event of an embargo.” Are refineries abusing their energy? The Federal Cartel Agency is currently investigating that query, at the behest of Germany’s minister of financial systems. This text is translated from German Read more: Why can’t you always ‘finish’ the yawn? | Top Q&A
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