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News Brief: Experts criticize Germany’s fuel prices as excessively high, prompting government intervention with new regulations for gas stations. However, the effectiveness of these measures remains in question.

Germany’s coalition government is responding to soaring fuel prices, which experts claim are inflated due to market manipulation by major oil companies. Greenpeace estimates these companies are making excessive daily profits of 21 million euros. Analysts note that price increases at gas stations are disproportionately higher than decreases when oil prices fall. The Monopolies Commission highlights a lack of competition in the market, dominated by a few large firms. The government has proposed a fuel price package limiting price changes at gas stations to once daily, but experts warn this may not lead to immediate relief. Additionally, the Federal Cartel Office is investigating pricing practices, as companies are accused of coordinating prices based on manipulated indices. The coalition plans to reverse the burden of proof regarding price increases, requiring companies to justify their costs. Experts suggest that true price relief will only come through increased competition in the market. This report is based on information from the original source.

Original Source: www.tagesschau.de