Preisdeckel, Übergewinnsteuer, Tankrabatt oder doch keine Intervention?

The surge in oil prices following recent geopolitical tensions has renewed the debate on policy interventions in fuel markets. This paper compares a price cap, a temporary windfall profit tax, and a fuel tax rebate in a dynamic model with demand adjustment frictions and short-run price inelasticity. Firms respond to cost shocks by increasing mark-ups, though intertemporal demand responses constrain pricing over time. A price cap directly limits price increases, while a profit tax dampens prices through intertemporal profit shifting. By contrast, a fuel tax rebate is partly offset by higher prices and entails substantial fiscal costs. Overall, price caps and profit taxes appear more effective in stabilising prices and alleviating consumer burdens.