Germany to Release Oil Reserves and Limit Fuel Price Hikes in Response to Iran Conflict

World news » Germany to Release Oil Reserves and Limit Fuel Price Hikes in Response to Iran Conflict
Preview Germany to Release Oil Reserves and Limit Fuel Price Hikes in Response to Iran Conflict

In a move to counteract soaring oil prices, the German federal government has decided to tap into its strategic emergency oil reserves. Furthermore, to mitigate the impact on consumers, fuel price increases at petrol stations will be restricted to just once a day, following a model established in Austria.