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To drive, or not to drive: Germans rethink love of cars

By Joseph Nasr BERLIN (Reuters) - Many Germans would support a car-free day a week to reduce dependence on Russian oil and gas imports, a poll showed on Friday, as soaring petrol...

By Joseph Nasr

BERLIN (Reuters) - Many Germans would support a car-free day a week to reduce dependence on Russian oil and gas imports, a poll showed on Friday, as soaring petrol and diesel prices squeeze both households and Chancellor Olaf Scholz's coalition government.

The Civey poll for broadcaster WELT showed that 48% would support a weekly car-free Sunday to help reduce imports of Russian oil, which leaves many Germans with a sense of guilt that their driving habits are bankrolling President Vladimir Putin. Some 46% oppose the idea.

German petrol and diesel prices in February rose by almost 26% from a year ago. Just over 30% of oil imports are from Russia. Soaring prices have prompted calls to cut dependency on energy imports from Russia while shielding consumers from price spikes and preserving the economic recovery from the pandemic.

This week, the government approved tax relief measures totalling 4.5 billion euros this year, including an allowance for motorists.

Finance Minister Christian Lindner also wants to introduce a temporary rebate for petrol and diesel that would cost the state 6.6 billion euros over three months.

Lindner's proposal faces resistance from the ecologist Greens, who oppose state subsidies for fossil fuels. This has exposed the first signs of tension in the governing coalition led by Scholz's Social Democrats (SPD) along with the Greens and Lindner's pro-business Free Democrats. There is an election this month in the state of Saarland, the first since a general election last year.

Greens and some SPD lawmakers oppose making a universal rebate, since high-earning car owners would get rebates while surging energy prices are squeezing low-income households, many of whom lack cars.

Some lawmakers say soaring energy prices would discourage driving and help Germany cut greenhouse gas emissions, which rose 4.5% last year.

Economists have also questioned the effectiveness of the proposal. An economist that advises the government likened a universal rebate to "throwing money out of the window."

The Civey poll showed 52% believe Lindner's petrol and diesel rebate makes no sense, while 39% back the idea.

Lindner, who owns a Porsche, at a news conference this week rejected views labelling his proposal a "fossil fuel subsidy." A journalist asked Lindner if he would get a rebate when filling up his sports car.

"It is rather an instrument of intervention during a crisis," said Lindner.

One prominent podcaster called Lindner's proposal a "Putin-Soli," short for "Putin solidarity tax."

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

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EUR/USD

1.0658

-0.0008 (-0.07%)

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GBP/USD

1.2475

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USD/JPY

157.91

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AUD/USD

0.6469

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

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EUR/CHF

0.9808

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Gold Futures

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Silver Futures

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US Coffee C Futures

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Euro Stoxx 50

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S&P 500

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DAX

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FTSE 100

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US Small Cap 2000

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IBEX 35

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49.155

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Bayer AG NA

27.35

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Allianz SE VNA O.N.

266.60

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Adidas AG

226.40

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Deutsche Lufthansa AG

6.714

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Siemens AG Class N

175.90

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Deutsche Bank AG

15.010

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
(0/ 0) # 1,510
SJC 1c, 2c, 5c7,380/ 7,550
(0/ 0) # 540
SJC 0,5c7,380/ 7,560
(0/ 0) # 550
SJC 99,99%7,370/ 7,470
(0/ 0) # 460
SJC 99%7,196/ 7,396
(0/ 0) # 386
Cập nhật 01-05-2024 10:45:19
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RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
DO 0,001S-V21.32021.740
Dầu hỏa 2-K20.68021.090
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD25.088,0025.458,00
EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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