This paper analyzes the effects of the Iran conflict (from February 2026), the 12 o’clock pricing rule, and the fuel price subsidy on the German retail fuel market. Using daily price data from approximately 15,000 stations, it examines price responses for E5, E10, and diesel by brand category and over time. Results indicate a sharp price increase following the supply shock, particularly for diesel, a narrowing of price dispersion across brands, and short-term price reductions from the fuel subsidy.