After the increase in oil prices due to Iran War, Germany’s ruling coalition on Monday announced a war package of 1.6 billion euros ($1.9 billion) i.e. about Rs 18 thousand crores to protect common consumers and businesses from the heat of inflation. This package will provide relief from rising fuel prices. Due to closure of the Strait of Hormuz, there has been a significant reduction in the supply of crude oil and gas. Due to which the prices of petrol, diesel and gas have increased significantly in many countries. Due to which inflation has increased in those countries. Let us also tell you what kind of announcement has been made by Germany.
made this big announcement
A joint document from the conservative CDU party and their centre-left SPD coalition partners said the energy tax on diesel and petrol would be reduced by about 0.17 euros per liter for a two-month period. The Iran war has forced many countries, including Germany, to face the largest-ever disruption to global energy supplies, and a planned US blockade of Iranian ports and coastal areas is further pushing up crude oil prices. Speaking at a press conference on Monday, Chancellor Friedrich Merz said the coalition was doing everything possible to deal with the problems arising from the Iran war. This war has currently been stopped under a weak ceasefire agreement. Coalition partners also agreed to allow companies to give their employees a relief bonus of 1,000 euros, which would be free of payroll taxes and social security charges.
Crude oil prices rose
Crude oil prices rose on Monday due to the failure of peace talks and the US planned blockade of Iranian ports and coastal areas. Crude oil prices have once again crossed $ 100 per barrel. Look at the data, crude oil of Gulf countries is trading at $ 102.71 per barrel with an increase of about 8 percent. Whereas the price of American crude is also seeing an increase of 8 percent and has become $ 104.47 per barrel.