Fuel prices in Germany were 20% more expensive in March 2026 than in the same month a year ago, according to new data from Destatis.
As a result of the crisis in the Middle East, petrol prices rose by 17.3%, diesel climbed 29.7%, and light heating oil prices jumped 44.4% year-on-year, the data showed.
While fuel prices have surged, Destatis noted that the impact to date has been less severe than the immediate price shock that followed Russia’s invasion of Ukraine in 2022.
In March 2022, for example, fuel prices were 46.8% higher year-on-year, diesel prices soared 62.7%, and heating oil prices rose by 144.4%.
Import prices
Import prices for crude oil and petroleum products have also accelerated again in recent months. In March 2026, crude oil import prices rose 24.6% year-on-year, petroleum product imports increased 48.6%, while natural gas import prices fell 8.6% compared with a year earlier, despite rising sharply month-on-month.
On a month-on-month basis, i.e. compared with February 2026, imports became significantly more expensive across the board. Crude oil import prices increased 45.9%, petroleum products rose 41.6%, and natural gas import prices climbed 19.6%.
Producer prices showed a mixed picture. Prices for refined petroleum products increased by 18.3% year-on-year in March 2026, while producer prices for crude oil fell 10.2% and natural gas declined 19.5% compared with March 2025.
‘At the upstream stages of the supply chain, import and producer prices for industrial products in March 2026 present a mixed picture when compared to the same month of the previous year,’ Destatis noted. ‘This is partly due to the still high price levels for the import and production of selected energy products since the beginning of the war in Ukraine. It is also related to long-term contracts and price formation mechanisms.’
Historical patterns
Destatis said similar energy price patterns have historically only been seen during major global crises, including the 1973 oil crisis, the 1979 energy crisis, the global financial crisis of 2008/2009, and the COVID-19 pandemic recovery period.
As it noted, ‘The already significant price increases for imported natural gas also intensified with the outbreak of the [Ukraine] war – natural gas prices in March 2022 were 330.5% higher than in the same month of the previous year. After further sharp increases, they reached their all-time high in August 2022.’ Read more here.
