Green Party demands excess profit tax on oil companies amid rising fuel prices

The Green Party is intensifying pressure on the Merz administration regarding rising fuel prices in Germany. Green parliamentary leader Katharina Dröge has accused the government of inaction, stating that citizens are being ‘ripped off’ while oil companies reap significant profits.

Dröge is demanding an excess profit tax on mineral oil companies. She estimates that these companies could see excess profits exceeding eight billion euros by the end of the year. The proposed tax could generate up to three billion euros, which the Greens intend to redistribute to households through a reduction in electricity taxes.

Several factors are driving the high costs, including rising crude oil prices linked to tensions in the Strait of Hormuz and low water levels on the Rhine, which have increased logistics costs. While some SPD politicians have also called for an excess profit tax or a fuel price brake, Economic Minister Katherina Reiche has rejected these measures.