Fuel Prices: Ifo Institute Sees No Exceptional Burden
4 Articles
4 Articles
The higher prices at the pump do not impose an exceptional burden on drivers, economic researchers say. Consequently, German workers must work for one litre of petrol for a similar length of time as in the past decades.
The average employee had to work for about five minutes for one litre of fuel in April. Thus, the burden of high prices is not too high in historical comparison.
Drivers get to feel the consequences of the Iran war at the petrol stations. New data show strong price increases. However, the historical comparison shows even higher jumps in earlier crises.
Dresden - According to the Dresdner Ifo Institute, the increased prices for petrol and diesel do not burden workers more than in many previous years.The Institute points to the development of wages, which have also increased over the years.According to calculations by the Institute, an average employee had to work about five minutes in April to afford a litre of petrol.In the past 35 years, this figure has been between three and six minutes.Acco…
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