Fuel prices in Austria
Why have fuel prices in Austria risen so sharply? The Federal Competition Authority is now investigating whether there were illegal price-fixing agreements.
Published on 03/22/2022
On March 21, the averages were fuel prices a gas station in Austria 1,738 euros per liter of Eurosuper 95 as 1,828 euros per liter of diesel. Although they are currently declining, they are still at a very high level.
I am week comparison do these fuel prices mean one reduction of 12.5% (petrol) and 9.6% (diesel). In the previous survey on March 14, the price of diesel was EUR 2,023 per liter and the price of petrol was EUR 1,738 per liter.
The drastic increase in fuel prices in 2022 illustrates the year-to-year comparison: A year ago – as of March 15, 2021 – diesel cost 1,163 euros per liter and Eurosuper 1,209 euros per liter (source: BMK).
» Current fuel prices with one click: You can find the cheapest gas stations in your area with our fuel price calculator.
Federal competition authority launched investigations
One reason for the current high fuel prices are the increased crude oil prices against the background of the Ukraine war. However, prices at gas stations shot up more than could be explained by the price of oil. Therefore leads to die Federal Competition Authority is now carrying out an investigation in the Austrian fuel market: It is to be clarified “whether, in addition to other current developments, the current prices are also due to a lack of or limited competition”, according to the BWB in one sending.
“We will now take a very close look to see whether it is closed here prohibited price fixing or cartel formation came,” said Minister of Justice Alma Zadić, referring to the objective of investigating fuel prices. Or, as Vice Chancellor Werner Kogler wrote on Twitter: “It must be clarified whether oil companies earn a fortune from the war.”
If it turns out that illegal agreements regarding fuel prices have actually been made, the companies concerned are threatened severe penalties. Specifically, fines of up to a maximum of 10 percent of the total sales previously achieved would be possible, as reported by the APA.
Fuel prices in Austria’s neighboring countries
Fuel prices have also risen rapidly in Austria’s neighboring countries. In some cases, however, countermeasures have already been taken. Some examples:
- in the Germany fuel prices are falling again, as in Austria, but are still at a very high level. According to a special evaluation by the ADAC, on Sunday, March 20th, one liter cost diesel 2,160 euros per liter in the federal mean. A liter of Super E10 hit it 2,087 euros to book.
- in the Slovenia fuel prices were frozen for 30 days. Diesel costs at most 1,541 euros per litre, gasoline 1,503 euros.
- in the Hungary a cap for fuel prices was introduced in November 2021. Here a liter of fuel costs a maximum of 480 forints. These are roughly calculated 1.30 euros.