Energy products are mostly significantly more expensive than before Russia attacked Ukraine

The most significant price increase during this period was for natural gas in distribution: in January 2023 it cost 50.7% more than in January 2022, the month before Russia's attack. The increase in electricity was 27.3%. Mineral oil products such as heating oil or fuels were 12.6% more expensive in January 2023 than in January 2022, despite recently significantly lower prices.  

Despite currently falling prices, importing energy from abroad was also significantly more expensive in December 2022 than before the Russian attack.
Gas imports cost 24.3% more than in January 2022, imported petroleum products were 14.6% more expensive and the import of electrical power cost 45.7% more than in January 2022. also became more expensive consumers on Ukraine clearly.

Petroleum products: Significant price increases in March 2022, downward trend at the end of the year 

Already in 2021, producer prices for mineral oil products such as heating oil and fuels had gradually risen as a result of the economic recovery and rose significantly at the end of 2021. After the Russian attack at the end of February 2022, there were once again significant price increases in March: petrol rose by 19.5% compared to February 2022, diesel fuel cost almost a third more than in the previous month (+31.2%) and light heating oil was down Monthly period 55.9% more expensive.

The historically high energy prices resulted in the highest overall increase in producer prices since the survey began in 1949. The fuel rebate, i.e. the reduction in the energy tax on fuels from June 1st to August 31st, brought temporary relief, above all the producer prices for motor gasoline. At the end of 2022, there was a clear downward trend in producer prices for mineral oil products. In January 2023, motor gasoline cost only slightly more than before the Russian attack (+4.4% compared to January 2022). Diesel fuel was 15.0% more expensive, light heating oil 28.8%.  

The decline is even more noticeable in import prices. The import of motor gasoline even cost slightly less (-0.6%) in December 2022 than in January 2022.

Gasoline costs as much at gas stations as it did before Russia's attack, diesel a little more 

The decline in fuel prices at the upstream economic levels is also being felt by consumers. Petrol and diesel recently cost about the same at German petrol stations as it did shortly before Russia's attack on Ukraine. According to data from the European Commission and the Market Transparency Office for Fuels (MTS-K) at the Federal Cartel Office, on February 13, 2023, drivers in Germany paid a daily average of 1.83 euros for a liter of Super E5 and 1.78 euros for a liter of diesel. On February 21, 2022, three days before the attack, the price for a liter of Super E5 was 1.80 euros, a liter of diesel cost 1.66 euros.  

Compared to Germany's direct EU neighbors, the price for a liter of premium E5 gasoline (or Eurosuper 95) was recently higher in France (1.90 euros) and Denmark (1.95 euros). Diesel only cost more in France (1.83 euros) than in Germany.

Natural gas cost almost twice as much for commercial customers in January 2023 as before the attack 

Despite falling prices for large consumers at the end of the year, natural gas was still significantly more expensive for all customer groups in January 2023 than before Russia's attack on Ukraine, without taking into account the new price cap introduced in January For trade and commerce, prices increased by 92.5% between January 2022 and January 2023, and for resellers by 50.6%. Industrial buyers paid 34.3% more than a year earlier. Natural gas was 32.9% more expensive for power plants.

Although producer prices for gas had already risen significantly in the second half of 2021 due to reduced deliveries from Russia and concerns about a military escalation, the reduction and ultimately the stop in deliveries of natural gas from Russia caused prices to fall again at the end of summer 2022 tighten significantly. At the end of the year, the comparatively mild winter in this country and the improved supply situation had a relaxing effect on natural gas prices for large consumers.

Electricity became more expensive for all consumer groups as a result of the war 

Like other energy products, electricity became more expensive for all consumer groups as a result of Russia's attack on Ukraine. For redistributors it was 29.7% more expensive in January 2023 than in January of the previous year. Without taking into account the price brake from January 2023, prices for special contract customers, i.e. larger industrial final consumers, rose by 19.1% from January 2022 to January 2023. Commercial systems, i.e. smaller commercial end consumers, paid 38.1% more than a year earlier, private households paid 36.3%.

Electricity prices on the stock exchange, for special contract customers and redistributors already reached highs in August and September 2022. For businesses and consumers, longer-term contracts initially had a price-dampening effect, but led to further rising prices at the end of the year.

Further information:
All current results on producer prices are also contained in the statistical report “Indices of producer prices for commercial products (domestic sales)”. You can find this HERE .

You can find the current fuel prices HERE.

Source:

Federal Office of Statistics

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