Germany’s Finance Minister Christian Lindner announced on Thursday that coalition parties have agreed to provide temporary energy relief for consumers, as reported by Reuters.

Additional takeaways

"Package includes measures to diversify energy imports."

"Petrol and diesel prices will be reduced for commuters over three months period."

"Petrol price to fall by 30 euro cents per litre, diesel 14 cents per litre for three months."

"Costs of energy package is part of the supplementary budget under discussion."

Market reaction

These remarks don't seem to be helping the market mood improve during the European trading hours. Germany's DAX 30 was last seen losing 0.5% on a daily basis.