Fuel prices hardly move in June 2023

Fuel prices in Germany are not falling further for now: An analysis by the consumer information service Clever Tanken shows that a liter of Super E10 cost an average of about €1.7941 in June. This corresponds to an increase of €0.0055, or about 1 cent, compared to the previous month (€1.7886). A liter of diesel cost an average of about €1.5934 nationwide in June, €0.0034 or about 0.3 cents less than in May (€1.5900). 

At least: Four tankfuls of 60 liters each are about 100 euros cheaper than in 2022

Compared to the same month last year (€1.9120), a liter of Super E10 was about €0.1179 cheaper this past June. This translates to a savings of about €28.30 for four 60-liter tankfuls compared to the same month last year. Diesel was about €0.4304 cheaper per liter last month compared to June 2022. Four 60-liter tankfuls thus cost around €103.30 less than a year ago. 

Wandering: The oil price shows no clear trend  

The main reason for the currently comparatively cheap fuel prices, according to Steffen Bock, founder and managing director of Clever Tanken, is the price development in the crude oil market. He explains:

"Oil prices are currently not trending in any clear direction. This is because there are factors that have a relieving effect and factors that are burdensome. Overall, however, they have settled at a relatively low level. For example, the quotes for the Brent variety, which is important for Germany, have been moving between 72 and 78 dollars per barrel since May."

Economic worries dampen prices

According to Bock, prices are primarily burdened by economic concerns in the USA and China. Additionally, rising interest rates in many other industrialized countries are also slowing down oil prices, as investors fear weaker economic growth and thus lower demand for crude oil on the world market. On the other hand, crude oil prices are supported by the production policies of major producer countries and temporarily low crude oil inventories in the USA.

Gasoline-Diesel difference: Diesel is marginally cheaper than gasoline

In June, the price difference between Super E10 and diesel was plus €0.2007 per liter. The gap between gasoline and diesel has thus widened marginally by about 0.2 cents in favor of diesel compared to the previous month (€0.1986).

Cheapest and most expensive days to refuel 

The cheapest day to refuel Super E10 and diesel last month was Saturday, June 3rd. On this day, a liter of Super E10 cost an average of €1.7770, and a liter of diesel cost €1.5620. Super E10 was most expensive on Wednesday, June 21st, and Thursday, June 22nd, at €1.8030. Diesel was most expensive on Sunday, June 25th (€1.6180). 

City ranking: Bonn remains cheap

 There was little movement compared to the previous month in June in the monthly price comparison of the 20 largest German cities by Clever Tanken. Bonn ranked first for the fourth consecutive month as the cheapest city to refuel Super E10, with a monthly average price of €1.7524 per liter. Bochum (€1.7568) and Essen (€1.7570) swapped the second and third places compared to May.

In Frankfurt, Munich, and Nuremberg, refueling is expensive

In the category of the most expensive cities to refuel Super E10, there was little new in June: Frankfurt am Main (€1.8105) climbed from third to first place, Munich (€1.8088) slipped from first to second place, and Nuremberg (€1.8073) from second to third place. Thus, four tankfuls of 60 liters of Super E10 cost an average of around €434.52 in expensive Frankfurt am Main, about €13.94 more than in cheap Bonn.

Cheap refueling on the Rhine and Ruhr

For the fourth consecutive month, Bonn (€1.5519), Bochum (€1.5719), and Essen (€1.5728) occupied the top three cheapest cities to refuel diesel in June. Bonn simultaneously ranked as the cheapest diesel city in the country for the eighth time in a row. Diesel was most expensive in June once again in Leipzig (€1.6382). Berlin occupied the second place (€1.6200). Nuremberg ranked third for the second consecutive time (€1.6144). 

What was to be expected: Summer vacations could drive up fuel prices

In the coming month, Steffen Bock expects slightly rising fuel prices.

“As all of Germany goes on summer vacation in July, prices will certainly rise. However, how much the increase will be depends mainly on the oil price, which, from today’s perspective, is likely to develop sideways similarly to the previous month.” 

Steffen Bock advises drivers in any case to compare prices, especially at the beginning of the vacation period, through apps, the navigation system, or the internet:

“Especially highway service stations will turn up the price screw. They benefit from their convenient location, which allows for quick refueling without deviation from the route, and they have little competition in their immediate vicinity. Therefore, drivers should avoid expensive highway service stations if this is possible without detours.”

Drivers should also note that there have long been up to six price peaks a day in some places, particularly at branded gas stations. Bock explains:

“Sometimes, there are differences of up to 15 cents per day at the same gas station. When comparing all gas stations in a city, differences of up to 22 cents can occur within 24 hours.” Low-cost refueling times are often between 8 and 10 a.m., 12 and 1 p.m., and 8 and 10 p.m.”

What does that mean?

Filling up remains (unfortunately) relatively expensive, which at least puts the costly electricity prices into perspective – the TCO thus remain comparatively high and are likely to rise again during the vacation period.