Oil prices rise dramatically: Israel-Iran conflict hits gas stations!

Oil prices rise dramatically: Israel-Iran conflict hits gas stations!

The situation in the Middle East is currently causing exciting developments at gas stations in Germany. The ongoing conflict between Israel and Iran has driven up oil prices sharply. Loud Mercury the average price for E10 rose by 2.4 cents per liter and for diesel by 3.9 cents per liter. These price increases are not only noticeable, but are also detected through intensive monitoring by the ADAC in cities such as Stuttgart, Karlsruhe, Freiburg and Ulm.

Anyone looking for the best price for fuel should know that the price spread in Germany is considerable. In Saarland, drivers will find the lowest prices at 1.63 euros for E10 and 1.54 euros for diesel. In contrast, people in Schleswig-Holstein have to dig deeper into their pockets: Here, E10 costs 1.73 euros per liter and diesel costs an impressive 1.62 euros. Baden-Württemberg is in the middle range, with prices of 1.66 euros for E10 and 1.57 euros for diesel.

The dark clouds over the Middle East

A report from ADAC According to reports, the conflict between Israel and Iran continues to escalate and has even prompted the Foreign Office to issue a travel warning for the region. German nationals are being asked to leave Iran, while travel warnings are also being issued for other countries such as Lebanon and Dubai.

The impending threat of overflights by drones and missiles could have a negative impact on oil supplies. The Lufthansa Group has already suspended flights to Israel and Tehran until the end of July, while the airspace over Jordan is also partially closed. These developments show how tense the situation is in the region and what impact this has on the international oil market.

The price curve of oil speculation

The conflict not only affects travelers, but also prices at the pumps. Loud BNF Oil prices could continue to rise in the coming months, especially if Iranian oil production is affected. Experts predict that if Iranian production were significantly reduced by 1 million barrels per day, prices could rise by up to $20 per barrel. The current tensions and rumors about possible attacks on the Iranian oil industry have a major influence on this.

The Strait of Hormuz, a crucial conduit for about a fifth of global oil production, could also be affected. In the event of a major conflict, prices risk quickly exceeding $100 per barrel and rising to extreme highs of $150. At the current price level of around 74 euros per barrel, it could quickly rise to 80 euros.

If the waves of conflict do not calm down, we should prepare for rising prices. Anyone who relies on driving would do well to compare prices and also take note of the best times to refuel: while prices are cheapest between 7 p.m. and 10 p.m., they skyrocket in the early hours of the morning. A good hand can be worth its weight in gold here.