German gasoline prices near all-time high amid Middle East tensions

BERLIN — Gasoline prices in Germany have climbed close to a record level as tensions in the Middle East continue to push up global crude oil costs. According to data from the German Automobile Club (ADAC), the average price of E10 gasoline nationwide reached €2.165 per liter on Saturday, just a few cents below the all-time high of €2.203 per liter set in March 2022. Diesel also remained elevated, with an average price of €2.260 per liter on Saturday, roughly 20 cents below the peak recorded in April, ADAC data showed. The club has said that, based on current figures, 2026 is on track to become the most expensive fuel year on record, surpassing the 2022 peak. The price pressure has been linked to rising global crude oil prices amid the ongoing war in Iran, as well as higher transport costs caused by falling water levels on the Rhine River, which have been passed on to fuel stations. The German government has also noted that prices rose again after a fuel tax cut in effect from early May through the end of June expired. Finance Minister Lars Klingbeil has moved, together with five European counterparts, to push for a Europe-wide tax on the extraordinary profits of oil companies, according to the government.