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Politicians from Germany’s ruling coalition have criticized oil companies over high fuel prices after a meeting of a government task force on Monday. The meeting was attended by the German heads of BP PLC and Shell PLC, as well as Andreas Mundt, the head of the Federal Cartel Office, along with representatives of industry associations and consumer groups. Armand Zorn, deputy parliamentary leader of the Social Democrats [SPD], said the oil industry had failed to give satisfactory answers about how prices are set. ‘The oil companies were unable to credibly explain how their pricing works and, above all, how the differences compared with other European countries can be explained,’ he said. Sepp Muller, deputy parliamentary leader of the conservative CDU/CSU bloc, voiced similar criticism, accusing oil companies of ‘price gouging.’ The bloc consists of Chancellor Friedrich Merz’s Christian Democratic Union [CDU] and its Bavarian sister party, the Christian Social Union [CSU]. SPD transport policy spokeswoman Isabel Cademartori said industry representatives were unable to explain why increases in crude oil prices are passed on to consumers immediately, while price drops are not. ‘The question of whether the companies expect record profits for 2026 also remained unanswered. Such behaviour after the burdens that German consumers have to bear is outrageous,’ she said. Politicians had accused oil companies of ‘ripping off’ consumers after fuel prices rose sharply in the wake of the US-Israeli military campaign on Iran. Christian Kuchen, head of the Association for Fuels & Energy in Berlin, rejected the accusation, saying profit margins had not changed since the start of the war. Fuel prices in Germany, he said, are set transparently based on wholesale petrol and diesel prices. Shell shares closed 0.4% higher at 3,380.50 pence each on Monday in London, while BP shares closed 0.6% higher at 537.30p each. source: dpa Copyright 2026 Alliance News Ltd. All Rights Reserved.
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