Germany says recent gas price hikes worse than in '70s oil crises
Motor fuel prices up by half in March 2022 on yearly basis in Germany, says official statement
By Gokhan Ergocun
ISTANBUL (AA) – Recent price hikes at German gas pumps are larger than during two historical oil crises – 1973-74 and 1979-80 – as well as the 2008-09 financial crisis, Germany's official statistical department said on Wednesday.
"Motor fuel prices in March 2022 for consumers are up by almost half from a year earlier," said a statement by Destatis, adding: "Import prices of natural gas in March are more than three-and-a-half times higher than a year earlier."
Destatis underlined that energy prices have been pushed up by the Russia-Ukraine war, launched almost two months ago.
"The year-on-year increase in motor fuel prices in past decades was never as large as in the current reference month March 2022," it added.
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