Recently, the signs are pointing to relaxation: the prices for petrol and diesel are falling, and importing energy is cheaper. Nevertheless, the balance of producer prices is clear in a year-on-year comparison. The Ukraine war causes prices to rise by a third.
Energy has become more expensive in Germany since Russia attacked Ukraine on February 24, 2022. The import of energy cost more, the selling prices of the manufacturers rose as well as the prices that consumers have to pay, according to data published by the Federal Statistical Office. Overall, producer prices for energy were still a third higher in January 2023 than in January 2022, despite the recent downward trend.
The clearest increase was in natural gas in distribution: Last month, it cost a good 50 percent more than a year ago, just before the outbreak of war. The increase in electric power was 27.3 percent. At the beginning of 2023, mineral oil products such as heating oil or fuels were 12.6 percent more expensive than a year ago, despite prices having recently fallen significantly.
The import of energy was also significantly more expensive in December 2022 than before the Russian attack, despite currently falling prices. Gas imports cost almost a quarter more than in January 2022, imported petroleum products were 14.6 percent more expensive and imports of electricity cost 45.7 percent more. Energy products related to heating and refueling also became more expensive for consumers.
In the meantime, fuel prices are falling at the upstream economic levels and are also reaching consumers. Gasoline and diesel cost about as much at German gas stations as they did shortly before Russia attacked Ukraine. According to data from the European Commission and the Market Transparency Unit for Fuels at the Federal Cartel Office, on February 13, 2023, drivers in Germany paid an average daily price of 1.83 euros for a liter of Super E5 and 1.78 euros for a liter of diesel. On February 21, 2022, three days before the Russian attack, the price for a liter of Super E5 was 1.80 euros and a liter of diesel cost 1.66 euros.
