Does Trump make gasoline expensive?

Donald Trump’s Iran sanctions can raise gas station prices. There are already the first price increases.

The flags of Iran and the national Iranian oil company NIOC fly on a gas field in Assalouyeh.

Dhe United States’ sanctions against Iran went into effect on Tuesday – accompanied by harsh words from Donald Trump. “Anyone who does business with Iran will not do business with the United States,” the American president said on the news service Twitter. A second stage of the sanctions, which is again directed particularly against the oil industry, is to follow on November 5th. But Iran is an important oil producer. So does that mean that less oil will be exported from the country around the world in the future? And will petrol and diesel soon become even more expensive at petrol stations in Germany?

The Allgemeine Deutsche Automobil-Club (ADAC) believes that it has already noticed the first effects on fuel prices. “The unfavorable price development at German petrol stations for consumers continues,” writes the automobile club in its weekly analysis of fuel prices at 14,000 German petrol stations. One reason is the American sanctions against Iran, under whose influence the crude oil market is. In addition, the euro recently fell slightly against the dollar. Compared to the previous week, a liter of Super E10 increased by 1.5 cents to an average of 1.466 euros. For diesel, the price rose by 0.9 cents to 1.287 euros per liter. This means that the price difference between the two varieties has increased further and is now just under 18 cents. So there is some movement to be seen here.