Gasoline and diesel prices rose to record levels in the spring following the Russian invasion of Ukraine. But new calculations show that the gas stations have not necessarily made more sales as a result.
The free petrol stations in Germany sold significantly less fuel in the spring than in the previous months. In May, their real sales, i.e. sales adjusted for price developments, were 11.7 percent below the value from February, as reported by the Federal Statistical Office. There was a particularly sharp slump in March, the first full month after the Russian attack on Ukraine: real sales fell by 5.5 percent compared to February 2022.
However, since fuel prices rose sharply at the same time, nominal sales fell by only 0.5 percent from February to May. The difference between the nominal and real results reflects the temporarily high fuel price increases.
A price increase was already observed in January 2021. However, this intensified by leaps and bounds with the beginning of the Russian war of aggression in Ukraine. For example, Super E5 cost 17.8 percent more in March than in February 2022. Since then, fuel prices have been subject to greater fluctuations, but for Super E5 in May 2022 they were still 17.5 percent higher than in February 2022.
The fuel price brake announced in mid-March is not included in the data published by Destatis, as the figures were only calculated up to the end of May – the fuel discount was not introduced until June 2022. Still, consumer behavior may have been influenced as they may have fueled less in the days and weeks leading up to the introduction of the discount.
Prices at gas stations are currently falling. Diesel now costs less than two euros per liter again, according to the latest ADAC figures. On a nationwide daily average, gas stations charged 1.843 euros for a liter of Super E10 on Tuesday. That’s 2.1 cents less than a week ago. Diesel became cheaper by 3.8 cents to 1.989 euros per liter.
At the beginning of the Ukraine war, fuel prices had climbed to record levels. Diesel is now around 30 cents cheaper than when it peaked in early March, and Super E10 is around 35 cents cheaper. However, fuel remains more expensive overall than before the war.
