He falls and falls: Since the summer, the oil price has dropped by 60 percent. A barrel of oil cost North Sea this week only 49 dollars. While oil companies suffer from the falling prices, consumers can look forward to: You save hundreds of euros this year in heating costs. This is shown by calculations of the Rhenish-Westphalian Institute for Economic Research (RWI) for the “Welt am Sonntag”.
especially benefit poorer households. This saves a family with an annual income of 12,145 euros 360 euros over the previous year. Had the family in January 2014 still spend € 103.26 per month for heating costs, there are only 74.67 Euro in January this year. The share for heating costs falls on net household income of nearly seven to less than five percent
A household with an income of 20,250 euros saved 480 € over the previous year. – 1.73 percentage points of income. For high earners with a salary of around 40,000 euros a year, the savings is only slightly higher. Instead 145,75 EUR per month he has to pay only 105.39 euros.
Low oil prices poses threat to Russia
” The low heating costs are a nice free-stimulus package for the economy, “says RWI researcher Manuel Frondel. For the money consumers save on heating costs, they can spend elsewhere. This is true not only for Germany. Overall, in the oil-importing countries 1.66 trillion stay more in the pockets of consumers, Frondel has calculated.
But there are risks. “If oil prices remain low, a collapse of Russia is a possible scenario. This would lead to turbulence that would also meet German consumers,” says Frondel. Russia is heavily dependent on oil exports. But first, consumers can lower prices rejoice.
low earners are disproportionately affected the current
For low income earners the price decline is however only compensate for the sharp rise in electricity costs. This emerges from a study by the RWI, which is also present this newspaper. Had a low-budget for 2006 to spend only 4.48 percent of its income on electricity, it was 5.47 per cent in 2012 – three times as much as a high earners (1.48 per cent)
The spread is likely to increase. With an increase in renewable energy levy (EEG surcharge) at 7.93 cents and a current price of nearly 36 cents per kilowatt hour must be a low- in 2019 already 6.75 percent of his income pay for electricity. For high earners, the proportion rises only 1.78 percent.
Assuming an electricity price of 38 cents, then had to low-income households 7.09 percent of their income pay for electricity, well-off households only 1.86 percent. “It could well be that the future electricity costs exceed the calculated stresses in the scenarios yet,” says the study. “This raises the urgent question on how to mitigate the impact of rising electricity costs for poorer households.”
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