Germany: consumer prices for oil, gas and electricity are rising

In September, consumer prices for oil, gas and electricity rose sharply compared to the previous year. For light heating oil, consumers had to pay around 76.5 percent more than a year ago, as the Federal Statistical Office in Wiesbaden announced on Wednesday. Natural gas was 5.7 percent more expensive and electricity 2.0 percent more expensive.

The big differences are due to the different access to the energy market, explained the Federal Office: “While heating oil is bought at current prices, long-term contracts with energy suppliers often apply to natural gas and electricity. Price adjustments there usually only take place annually and with some advance notice. “

source site