Germany Gasoline prices, 14-Oct-2024

Gasoline prices in Germany are set by the market, i.e. they are not regulated by the government. Therefore, the table below shows a high level of price flexibility: 0.97 and high correlation with Brent prices: 0.9 (1 is the maximum). A 10 % change in Brent prices leads to about 4.52 % increase in gasoline prices based on the last three years of data. That is less than in the U.S. and similar to other European countries.

Gasoline prices in Germany are relatively high: 136.05 % of the world average. However, incomes are also high and it takes only 1.78 % of the average monthly income to fill a 40 liter tank of gas. Germans spend 1.16 % of their income on gasoline which is low and similar to other industrialized countries.

Germany has a fuel price transparency mechanism where each fuel station has to report its prices in almost real time. Many apps use that data to inform the public about prices. In other words, the fuel prices are very transparent.

There is low variation in prices across regions and cities. The standard deviation is less than 3 percent and, therefore, the national average is representative of most of the country.