Germany's new era of higher fuel prices

[Kellanved]

Germany might be known for its peak performance autos and high-speed freeways, but surging fuel costs means that Germans have been forced to seek out other alternatives to the private car. And, as Douglas Sutton writes, this could just be the start of soaring petrol pump prices.
...
The survey of 1,011 people by polling institute Polis last week showed that one-third of Germans now aims to drive less than before. One-third also said they planned to try to drive more conservatively in order to save their precious fuel. For 31 percent of those questioned by Polis - with people able to respond to more than one possibility - walking is now seen as a viable alternative at least for shorter distances, while 25 percent said they aim to use their bicycles. Thirteen percent said they would be switching to public transportation.

...
An irony in the German petrol market situation is that two factors should be working against higher prices. First, with oil prices denominated in dollars, the stronger euro should help to absorb the impact of rising petroleum rates.
And secondly, motor fuel consumption has declined in Germany, thanks to more efficient engines. Under normal supply-and-demand market rules, lower demand should also mean lower prices.
...

But world market demand is being fuelled by the thirst of the US economy and motorists there, the MWV said. It said the United States, unable to cover its needs from its own production and refining, is projected to have to import some 40 million tons of petrol this year.

...

http://www.expatica.com/source/site_article.asp?subchannel_id=52&story_id=7901