German Economy Minister Merz to Host Crisis Talks on Energy Price Impacts

Germany's National Security Council to Discuss Global Energy Crisis

Chancellor Friedrich Merz has announced plans to convene Germany's national security council to discuss the ongoing global energy crisis, citing concerns about its impact on Europe's largest economy. According to Merz, the council will meet in Berlin shortly to address the situation.

The council, empowered to take immediate action to ensure Germany's energy security, will focus on guaranteeing the supply of essential products such as gasoline, diesel, and aviation fuel. Merz emphasized that the market situation is currently tense, but the supply in Germany remains secure. However, in the event of an escalation, the government is prepared to implement measures to address the crisis.

To alleviate the burden on drivers, the German government has decided to reduce taxes on automotive fuel for two months. The average price of E10 premium gasoline in Germany has risen to €2.10 ($2.47) per liter, up from approximately €1.73 in January.

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The announcement comes as Germany's sluggish growth continues to be a concern, with the country's governing coalition falling short on its pledges to stimulate the economy. The Handover trade show, a major industrial exhibition, has been overshadowed by Germany's economic struggles.

Meanwhile, Chancellor Merz and Brazilian President Luiz Inacio Lula da Silva have announced plans to strengthen their countries' strategic partnership. The two leaders will meet on Monday to discuss joint projects in areas such as raw materials, defense, digital transformation, and climate. Brazil, Germany's most important trading partner in South America, has a trade volume of over €20 billion.

In a related development, Deutsche Lufthansa AG, like other global airlines, has announced cuts to its flight schedule due to dwindling jet fuel reserves. The German government's decision to reduce taxes on automotive fuel is seen as a relief measure for drivers in the country.

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Brazilian President Lula da Silva has touted his country as a reliable partner in a world of instability, emphasizing its potential to help the European Union lower its energy costs. Lula also criticized US President Donald Trump and the "madness of the war against Iran."