Germany limits gas price rises to once a day amid U.S.-Iran war
BERLIN, GERMANY – MARCH 16: A truck and a cyclist pass a gas station showing gas prices well above €2.00 per liter on March 16, 2026 in Berlin, Germany. In response to dramatic oil price increases in Germany since the start of the US-Israeli military conflict with Iran, the German government is considering introducing a new law that would help curb price increases. Oil prices rose higher in Germany than elsewhere in Europe. (Photo: Sean Gallup/Getty Images)
Sean Gallup | Getty Images News | Getty Images
Germany has stopped gas stations from increasing pump prices more than once a day as the Iran war and oil supply disruptions have increased costs.
of the country Federal Government On Wednesday, it announced regulations allowing only one price increase per day at 12:00 p.m. The government said prices changed up to 22 times a day due to the sharp increase in energy costs as the US-Iran war continues.
Outlining the regulation, the German government said it was aimed at breaking the “rocket and feather effect”, where “fuel prices often rise very quickly when crude oil prices rise, but fall only slowly when oil prices fall”.
Price reductions can be made at any time. Gas companies could face fines of up to 100,000 euros ($116,000) for violating the ban.
Germany is also introducing legal changes to make it easier to crack down on powerful companies that engage in “malicious fuel price increases.”
Oil prices rose above $100 per barrel after Iran effectively closed the Strait of Hormuz, through which about 25 percent of the world’s oil flow passes, causing a major supply disruption.
West Texas Intermediate futures were last traded above $98 a barrel, down 2%, on Wednesday, while Brent crude futures were down 2%, above $101 a barrel.
This is among the measures taken by European countries to limit the impact of rising fuel prices.
British Prime Minister Keir Starmer announced 53 million pound package Last month to support vulnerable families affected by high energy prices. He also announced that there would be a cap on energy bills and that fuel tax caps would be extended until September.
Danish Energy Minister Lars Aagaard encouraged citizens to cut down on energy use and drive less as the country turns to oil reserves in light of rising prices.
While Austria and Hungary also imposed restrictions on fuel price increases, France initiated inspections to prevent price inflation.
Speaking on Wednesday, International Energy Agency CEO Fatih Birol warned that the energy crisis would worsen in April after the agency’s 32 member countries agreed to draw 400 million barrels of oil from emergency stocks to offset some of the supply disruptions.
Birol also said the IEA is considering releasing more oil reserves as a result.
