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Germany Faces Energy Crisis Amid Rising Oil Prices

3/8/2026

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Story summary
  • Germany's Chancellor Friedrich Merz faces strain from rising energy prices and disrupted supply chains linked to the Iran conflict and the Strait of Hormuz.
  • Oil prices have surged, raising German fuel costs and driving premium gasoline to €2.50 per liter.
  • The government established a task force to monitor the situation.
  • Critics say high fuel prices benefit certain interests and ignore fossil-fuel dependence.
  • Environmental groups warn renewable energy initiatives remain stalled.