German Chancellor Friedrich Merz has apologised to citizens for soaring global oil prices triggered by the U.S.-Iran conflict, which has lingered for over six months, and said his government will draft proposals to mitigate the harsh impact of the hike.
Gasoline prices in Berlin hit a record high of about €2.4 per litre on Tuesday as the world grapples with a global oil crisis following the closure of the Strait of Hormuz.
Mr Merz said his government was collaborating with states to create relief packages to cushion the impact of rising oil prices, which hit new highs this week after multiple attacks on a Saudi Arabian pipeline that served as an alternative global oil exporter following the strait’s closure.
“Fuel prices have become too heavy a burden for many people. I take this seriously: the federal government and the states are working on relief measures. We will present a proposal for this,” the chancellor said on Tuesday.
Saudi authorities said the 750-mile-long pipeline was struck by drones fired from Iraq on September 10, which piled pressure on an already tight market.
In Nigeria’s capital, Abuja, petrol sold as high as N1600 per litre.
