Germany stops gas stations from raising pump prices more than once a day

Germany has stopped gas stations from raising pump prices more than once a day, as the Iran war and disruption to oil supply raise costs.The country's Federal Government introduced regulations on Wednesday that permit just one price increase a day at 12 p.m. The government said that prices had been changing up to 22 times a day, amid the sharp rise in energy costs as the U.S.-Iran war continues.Outlining the regulation, the German government said it was intended to break the "rocket and feather effect" where "fuel prices often rose very quickly in the past when crude oil prices rose, but only fell slowly when the oil prices dropped."Price reductions may be made at any time. Gas companies could face fines up to 100,000 euros ($116,000) for violating the ban.Germany is also introducing legal amendments to make it easier to crack down on powerful companies engaging in "abusive fuel price increases."Oil prices surged past $100 per barrel as the Strait of Hormuz — through which about 25% of the world's oil passes — was effectively closed by Iran, triggering a massive supply disruption.West Texas Intermediate futures last shed 2% to trade at above $98 per barrel on Wednesday, while Brent crude futures were down 2% to above $101 per barrel.It's among the range of measures European countries are taking to limit the impact of rising fuel prices. U.K.

Prime Minister Keir Starmer announced a £53 million package last month to support vulnerable families affected by high energy prices. He also outlined a cap on energy bills and an extension to fuel duty caps until September. Denmark's energy minister, Lars Aagaard, encouraged citizens to cut back on energy use and drive less as the country leans on its oil reserves in light of rising prices.Austria and Hungary have also introduced limits to fuel price increases, while France has launched inspections to prevent price gouging.Speaking on Wednesday, the International Energy Agency's CEO Fatih Birol warned that the energy crisis will worsen in April, after the agency's 32 member countries agreed to release 400 million barrels of oil from emergency stockpiles to offset some of the disruption to supply.Birol also said the IEA was considering releasing more oil reserves as a result. Got a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2026 Versant Media, LLC.

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