Germany eyes new cartel law as fuel tax cut falls short

BERLIN (AP) — Germany’s vice chancellor is proposing new powers for the country’s antitrust agency to clamp down on oil companies amid disappointment over the limited effect of a cut in fuel taxes. A three-month cut took effect on June 1 as part of a wider package of measures aimed at blunting the financial fallout from Russia’s invasion of Ukraine. But there have been widespread complaints that prices at the pump have crept back up substantially after initially falling. Industry representatives insist that the tax reduction is being passed on to consumers but that they face pressure from rising prices. Many politicians accuse oil companies of using the tax cut to line their pockets.