German Diesel Price Reaches All-Time High

Car drivers in Germany have to pay €1 ($1.20) for a liter (a quarter of a gallon) of diesel fuel. The average national price surpassed the record amount of €0.99 set in March 2003. The German automobile associations ACE, ADAC, and AvD all condemned the increase, calling on oil companies to lower their prices. The companies have attributed the price to the high costs currently demanded on the European oil market in Rotterdam in the Netherlands. The almost 3 percent drop in raw oil prices Wednesday evening hadn't yet had an effect on gas station prices on Thursday.