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Business

Germans Fear Price Hikes at Gas Stations

As the price for crude oil reaches a 120-year high in trading this week, drivers are also facing price hikes of up to 10 eurocents (12 cents) per liter (a quarter gallon) at German gas stations, according to officials at the Automobile Club of Germany (AvD). They expect premium gas prices to climb to €1.30 during the coming weeks. Natural gas could also become more expensive as a result: Officials for the German Federation of Natural Gas and Water Providers (BGW) said they expected prices to go up in the coming fall or winter. Berlin's natural gas provider, Gasag, already announced that it will likely raise prices by up to 7 percent in October.