Stop Whining America: Premium Gas Just Hit $55.20 A Gallon At One German Station

oil gaspump1 tbi

Gas prices were already high in Germany, but this is just ridiculous.

The price for a single liter of of premium gas is now €9.99 outside of the German city of Stuttgart, in the town of Filderstadt, according to Handelsblatt. That’s around $55.20 a gallon!

Now, this isn’t currently the wide spread price in Germany, but it shows how one holiday weekend could lead to a severe supply shortage and a massive spike in prices. Authorities in the region claimed it wasn’t a price gouging attempt, because it was the company Esso’s headquarters that set the price.

As of November, Germans were paying $7.19 a gallon on average for gas. In the U.S., where gas taxes are much lower, the price is now over $4.00 a gallon in some places.

Don’t miss: The 15 most expensive places to buy gas in the world >

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.