Diesel prices in Germany fell below their pre-Iran war levels over the weekend, according to data from motoring association ADAC released on Monday.
The nationwide daily average price on Friday, Saturday and Sunday came in just below the level recorded on February 27, the last day before the war broke out.
Friday was the cheapest day, with diesel averaging €1.733 per litre ($1.986), 1.3 cents lower than on the last day before the war. On Sunday, the saving was 0.8 cents, with a litre price of €1.738.
E10 petrol cost €1.822 per litre on Sunday, 4.4 cents more than before the war began. Friday was slightly cheaper for E10 too.
At the peak around Easter, diesel had temporarily been more than 70 cents per litre more expensive than before the war began, and petrol more than 40 cents.
The easing reflects the fact that oil is significantly cheaper than it was in early June, following initial progress in negotiations between the United States and Iran towards an agreement to end the war.
The blockade of the Strait of Hormuz had temporarily pushed the oil price above $120 per barrel in March.
A fuel tax rebate is also playing an important role. It reduces tax by 16.7 cents per litre. Without it, petrol and diesel would be significantly more expensive than before the war.
Current prices do suggest, however, that diesel and E10 could remain below €2 per litre even without the rebate, which expires at the end of the month.
