Germany targets oil firms to prevent wartime price gouging

AFP AFP
Mar 17, 2026
1 hr ago

Germany's economy minister says petrol prices in the country have risen above the European average — Germany's economy minister says petrol prices in the country have risen above the European average
Tobias SCHWARZ

Germany's economy minister says petrol prices in the country have risen above the European average
Tobias SCHWARZ

Germany said Tuesday its competition watchdog will soon get more powers to target energy firms over concerns they are unfairly hiking petrol prices to profit from the wartime oil shock.

Global oil prices have surged as the Middle East war, pitting allies the United States and Israel against Iran, has led to the near total closure of the Strait of Hormuz to oil and gas tankers.

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