Germany pump prices rise on French refinery strike – group

21 October 2010 15:10  [Source: ICIS news]

TORONTO (ICIS)--The ongoing strike action at French refineries and ports has led to shortages and price hikes for refined products in Germany, in particular for gasoline and diesel, a German trade group said on Thursday.

So far however, the impact on German pump prices has been muted, reflecting the country’s competitive market conditions, Hamburg-based refinery trade group MWV (Mineralolwirtschaftsverband) said.

According to the group, German average gasoline prices rose by 2 euro cents to €1.39/litre since end-September when the widespread French strikes began.

This compared with an average increase of 9 euro cents in Rotterdam-traded gasoline over the past three weeks, it added.

“This pricing development underlines the high level of competition on the German petrol retail market,” MWV said.

“Refiners cannot pass on increased international prices for gasoline and diesel to drivers at the pump here,” it added.

The group said that a decline in overall transport fuel sales in Germany, due to fuel-efficient vehicles, resulted in an increasingly tougher fight for customers.

In related industry news on Thursday, French petrochemicals producer Total declared force majeure across all grades of polyethylene (PE), polypropylene (PP) and polystyrene (PS) as a result of the French strikes.

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By: Stefan Baumgarten
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