Preliminary data shows Germany’s oil and gas demand fell as surging prices curbed consumption, particularly diesel and jet fuel.
Germany’s total energy demand declined 1.9% in the first half of the year, driven by sharp increases in oil and gas prices. The drop reflects weaker industrial activity and consumer cutbacks amid elevated costs.
Oil product consumption fell 8%, with diesel demand down nearly 6% and jet fuel declining 1%. Gasoline use saw a modest 0.6% dip, suggesting resilience in personal transport despite broader declines.
The data underscores the impact of energy price volatility on Europe’s largest economy, with potential implications for inflation and industrial output.