Overview
- Brent and WTI jumped above $100 a barrel, peaking near $111 after a week‑long surge of about 50% as tanker traffic through the Strait of Hormuz largely stalled and Asian equities slumped.
- German pump prices climbed sharply, with diesel widely exceeding €2 per liter and Super E10 near €2, passing higher energy costs to households and businesses.
- Cross‑border differentials of roughly 30 to 60 cents per liter drew drivers to Poland and the Czech Republic, and German customs intensified checks on returning motorists.
- Station operators accused oil majors of profiteering and widening margins, while the fuels industry pointed to higher traded product prices and replacement‑cost pricing to justify rapid increases.
- Finance Minister Lars Klingbeil pledged to prevent gouging and Economy Minister Katherina Reiche initiated a swift cartel‑law review, as farmers reported steep rises in diesel and fertilizer costs and Deutsche Bahn noted higher bookings.