Record Prices at the Pump | Business| Economy and finance news from a German perspective | DW | 12.08.2005
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Record Prices at the Pump

Gasoline prices have risen to record highs in Germany. For one liter of super, drivers on Friday had to pay on average 1.31 euros ($1.63). A liter of diesel cost 1.13 euros, also a new record. It is the third time this week that oil companies have raised prices, arguing that record high prices for oil products on the Rotterdam market have forced their hands. The price of crude oil, which heavily influences gasoline prices, continued to rise dramatically, jumping six percent within a week. London Brent crude set another record on Friday at $65.78 a barrel, up 40 cents.

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