Germany extends lockdown, tightens Easter measures

  • : Oil products
  • 21/03/23

Germany has extended its nationwide Covid-19 restrictions to 18 April and will tighten measures for the Easter holiday weekend, the government said today.

This is a blow to any prospect of demand increases in Europe's largest market for road fuels. Fuel demand increased in March on the month but remains sluggish compared to last year's levels.

Chancellor Angela Merkel and the heads of the German states have agreed to extend into next month contact restrictions and home-working requirements. The government said that 1 April and 3 April will be "quiet days" in which "far-reaching reduction of all contacts" are required. This essentially extends the Easter weekend.

The new measures could further lower already sluggish fuel demand. Filling station operators have decreased term buying by around 20pc on the year this month, after year on year reductions of around 45pc in February. Still, average gasoline spot-volumes for pickup from terminals have increased by 65pc on the month so far in March, and diesel volumes by 45pc, according to deals submitted to Argus.

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more