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The price of oil has risen to as much as $115 a barrel due to the war in the Middle East. Drivers and heating oil customers in Germany face significantly higher prices.
Drivers in Germany have to prepare for rising energy prices. The price of oil has shot up sharply following the escalation in the Middle East – and experts are now even warning of a global economic shock – with noticeable consequences Petrol, diesel and heating oil.
The price for a barrel of North Sea Brent crude oil temporarily jumped to around around the weekend 115 dollars. This is the highest level since July 2022. At the beginning of January, Brent oil was at just over 60 dollars located.
The US variety West Texas Intermediate (WTI) also rose sharply. The rapid increase is causing unrest on the financial markets worldwide and is increasing concerns about new inflation.
Fuel prices could rise significantly further
The price increase at German gas stations was already noticeable before the latest escalation. According to the ADAC, it cost Liters of Super E10 most recently on a weekly average 1,776 euros – a Plus 1.8 cents compared to the previous week. Diesel became even more expensive.
The daily averages of 1,794 euros per liter of E10 and 1,759 euros per liter of diesel are already among the highest values in almost two years.
Fuel prices are currently rising more slowly
Nevertheless, the price pressure at German gas stations has recently eased somewhat. According to current figures from the ADAC, petrol and diesel continued to rise in price over the weekend – however significantly slower than last week.
According to the ADAC, this was the nationwide daily average on Sunday 2,117 euros per liter of diesel and 1,984 euros for Super E10. Compared to the previous day, these were only 0.7 cents more for diesel and 0.4 cents at E10.
The first figures from Monday morning do not yet indicate a new price jump. During the morning price peak, diesel was included 2,177 eurosSuper E10 at 2,043 euros. However, fuel prices often only react with a delay to strong movements on the oil market.
However, compared to the day before the start of the war in the Middle East, the price jump remains significant: diesel now costs more 37.1 cents moreSuper E10 20.6 cents more per liter.
If the price of oil remains at the current level or continues to rise, the cost pressure at gas stations could increase again in the coming days.
What consumers can now do at the gas station
Rising crude oil prices usually quickly affect gasoline, diesel and heating oil. Consumers can at least limit their costs somewhat:
Compare prices
There is often a difference of several cents per liter between individual gas stations.
Refuel in the evening
Statistically, prices are lowest between late afternoon and evening.
Combine trips
Combining trips saves fuel.
Watch heating oil prices
If oil prices continue to rise, traders can quickly adjust their prices.
Experts see oil prices soon at $120
Economists are now warning of significantly higher prices. The chief economist of the investment bank JPMorgan, Bruce Kasmanexpects oil prices to rise in the short term 120 dollars per barrel.
If the conflict lasts longer, prices could even remain permanently above this mark. In this case, according to Kasman, there is a risk of noticeable consequences for the global economy: global growth could fall in the first half of the year decrease by 0.6 percentage pointswhile inflation increased by about increase by one percentage point would.
Also the economists Christoph Balz and Marco Wagner from Commerzbank see significant risks. In their base scenario, they assume that the disruption to shipping traffic in the Strait of Hormuz could only last a few weeks.
However, if the conflict spreads, the transport of oil and gas could remain disrupted for months.
Why the price of oil suddenly rises so sharply
The price jumps are triggered by the escalation of the war in the Middle East. After attacks by the USA and Israel on targets in Iran, Tehran has the important Strait of Hormuz blocked.
The strait between the Persian Gulf and the Gulf of Oman is one of the most important energy routes in the world. Around 20 percent of the oil traded worldwide usually pass this passage.
Because of the uncertainty, many people avoid it shipping companies the route. Tankers are piling up in front of the strait and supply chains are coming to a standstill.
Oil transports, among other things, leave via the Strait of Hormuz:
- Saudi Arabia
- United Arab Emirates
- Iraq
- Kuwait
- Qatar
In addition, a large part of the global liquid gas trade is transported via this route.
If the passage is canceled for a longer period of time, the global market suddenly faces a significant loss of supply – a risk to which traders usually react immediately.
Germany sources little crude oil from the Middle East
According to the Federal Statistical Office In 2025, only 6.1 percent of German crude oil imports will come from the Middle East. The most important supplier from the region was Iraq. Further quantities came from the United Arab Emirates, Saudi Arabia and Israel. From states like Iran, Kuwait or Qatar no crude oil was recently delivered to Germany.
The most important crude oil supplier for Germany Norway with 16.6 percentfollowed by the USA (16.4 percent) and Libya (13.8 percent).
Despite the comparatively low direct dependency, a crisis in the Middle East quickly affects Germany. The price of oil is traded worldwide – if it rises on the raw material exchanges, it also becomes more expensive here Petrol, diesel and heating oil.
This way you can now save on heating oil and energy costs
Watch heating oil prices
When oil prices rise sharply, traders often react quickly. If you still have enough stock, you can wait and watch price portals. There are often short-term declines in between.
Don’t panic and order large quantities
During crises, prices often rise sharply in the short term and then fall back slightly later. Experts therefore often recommend only ordering partial quantities when the tank is still sufficiently full.
Check bulk orders
In many regions, dealers offer discounts if several households order heating oil together.
Check tank level
If you check early on how much heating oil is left in the tank, you can plan your purchase better and don’t have to reorder at an inconvenient time.
Plan early for winter
If the situation on the energy markets calms down, more favorable phases may emerge. If you buy in time, you avoid expensive emergency orders in the middle of winter.
Approach new heating planning carefully
If you are responsible for your own heating, you could of course use the current prices as an opportunity to look for an alternative. Act prudently and compare offers. Panic buying can be expensive.
Is there a risk of a new surge in inflation?
A permanently high oil price would have consequences far beyond the petrol station. Diesel makes transport and logistics more expensive, which could make many products more expensive.
In such a scenario, Commerzbank will hold its own in the euro area Inflation rates of around three percent for possible.
How strong Petrol, diesel and heating oil actually increase depends crucially on how long the disruptions in the Strait of Hormuz last. If the blockage only lasts for a short time, prices could calm down again.
However, if the conflict drags on for weeks or months, there is a risk of an energy shock – with consequences for the entire economy.
