Home Economy Pain at the gas pump is being felt around the world

Pain at the gas pump is being felt around the world

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An attendant pumps gas into a motorcycle in Hanoi, Vietnam Sunday, June 19, 2022. Across the globe, drivers are rethinking their habits and personal finances amid skyrocketing prices for gasoline and diesel.

Hau Dinh / AP

COLOGNE, Germany — At a gas station near the Cologne, Germany, airport, Bernd Mueller watches the digits quickly climb on the pump: 22 euros ($23), 23 euros, 24 euros. The numbers showing how much gasoline he’s getting rise, too. But much more slowly. Painfully slowly.

“I’m getting rid of my car this October, November,” said Mueller, 80. “I’m retired, and then there’s gas and all that. At some point, you’ve got to scale back.”

Across the globe, drivers like Mueller are rethinking their habits and personal finances amid skyrocketing prices for gasoline and diesel, fueled by Russia’s war in Ukraine and the global rebound from the COVID-19 pandemic. Energy prices are a key driver of inflation that is rising worldwide and making the cost…

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