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Germany's new regulation: gas stations are only allowed to raise prices once a day
Germany officially implements a new oil price regulation on April 1, requiring gas stations to adjust fuel prices only once per day to respond to oil price fluctuations caused by Middle Eastern conflicts and to improve market transparency.
This new regulation was published on March 31 in the Federal Law Gazette of Germany, stipulating that gas stations can only raise fuel prices once during midday each day, while price reductions are not restricted by time.
Violations can result in fines of up to 100,000 euros (approximately 797,000 RMB).
According to DPA, this regulation mimics similar control policies in Austria.
The German Automobile Club and gas station operators have expressed doubts about the actual effectiveness of the new regulation.
(Xinhua)