The oil price has continued to soar in the past few days - and has driven the price of petrol in Germany to an average of 1.50 euros.

On a weekly basis, that was another plus of 0.2 cents per liter.

The ADAC reports.

Diesel rose in price on a weekly basis by 0.3 cents to 1.359 euros per liter.

Christian Siedenbiedel

Editor in business.

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    As part of the weekly analysis of the ADAC for more than 14,000 filling stations, it was the first time in a long time that the average petrol price in Germany reached 1.50 euros, as a spokesman for the car club confirmed on request.

    The mark had already been exceeded in the past few weeks on individual days, at certain times and at individual petrol stations.

    In some cities such as Konstanz, the petrol price was recently on average over 1.60 euros per liter.

    Especially in the early morning hours it is particularly high everywhere.

    On average, however, according to ADAC, gasoline was last as expensive as it is now in May 2019, and diesel the last time in the expensive autumn of 2018.    

    At the beginning of the year, the new CO2 price and the renewed increase in VAT made gasoline more expensive in Germany.

    The most recent price increase, however, is clearly a consequence of the price rally for crude oil, as the ADAC emphasizes.     

    The price of North Sea Brent crude oil reached a two-year high on Wednesday at just under $ 75 per barrel (159 liter barrel).

    Since the beginning of the month, North Sea oil has risen by more than 6 percent and American oil by 8 percent.

    The most important reasons given for the price increase are the robust economy in leading industrialized countries and a generally positive mood on the financial markets.

    In addition, there were low numbers of American oil stocks.

    According to experts at DekaBank, expectations of further price increases have also increased because Iran's return as an oil exporter could be delayed.

    Commerzbank emphasized that several large oil traders had made very optimistic price forecasts;

    one even expects that a so-called “super cycle” could bring the price of oil towards $ 100.