FX.co ★ Fuel prices in Germany reach 50-year high

Fuel prices in Germany jumped by 47.4% year-over-year in March, reaching the highest level in 50 years, the Federal Statistical Office of Germany (Destatis) said.

According to Destatis, supergrade petrol prices increased by 41.9%, while diesel fuel went up by 62.6%. Light heating oil was 3.5 times more expensive in March 2022 compared to the same month in 2021, while natural gas prices surged by more than 250% year-over-year.

Skyrocketing fuel prices boosted inflation, which advanced to 7.3% in March, reaching the highest level since the German reunification in 1990.