Following the collapse of peace talks between the United States and Iran, and U.S. President Donald Trump’s decision to block the Strait of Hormuz, global oil prices have surged once again. In response, Germany has announced a reduction in fuel taxes to ease pressure on citizens facing rising energy costs, according to AFP.
Merz stated that the conflict is the root cause of Germany’s current economic problems and warned that its economic impact could be long-lasting.
After discussions with his party, the Christian Democratic Union (CDU), and coalition partners, Merz announced a temporary cut of about 17 euro cents (around $0.19) per liter on petrol and diesel taxes for two months.
At a press conference in Berlin, he said this measure would quickly improve conditions for drivers and businesses, especially those who spend a significant amount of time on the road for professional purposes.
