Germany’s competition watchdog said it will continue to “keep a very close eye” on gas-station operators and refiners after a reduction in fuel tax expires on Wednesday.
(Bloomberg) — Germany’s competition watchdog said it will continue to “keep a very close eye” on gas-station operators and refiners after a reduction in fuel tax expires on Wednesday.
Chancellor Olaf Scholz’s government cut the duty on fuel by about 35 euro cents ($0.35) per liter for gasoline and about 17 cents for diesel for three months from June 1 as part of a package of measures to ease the burden on businesses and households from soaring energy costs.
The Federal Cartel Office — Germany’s antitrust authority — has been monitoring fuel prices to assess whether price gouging is taking place and is planning to present preliminary findings in the fall.
“We will continue to keep a very close eye on this and provide information on how prices develop and what will happen when the tax reduction no longer applies,” Andreas Mundt, the office’s president, said Tuesday in an emailed statement.
“By investigating refineries and wholesalers we also want to shine a light on price-setting factors and mechanisms,” he added. “So far, only little is known about what actually happens between the purchase of crude oil and its sale at petrol stations.”
Scholz’s ruling coalition is discussing a third package to help shield companies and consumers from energy inflation. The measures will be presented “very quickly,” the chancellor said Tuesday.
“We are now in the process this week of very carefully discussing among ourselves how we can launch a package of relief that is as tailor-made, efficient and targeted as possible,” Scholz told reporters before a two-day cabinet retreat outside of Berlin.