Many European countries have taken action in connection with the increase in fuel prices caused by the conflict in the Middle East. On Thursday, the German Bundestag passed a bill aimed at limiting the rise in fuel prices. In Spain, the parliament adopted a social shield reducing VAT on fuel and energy from 21 to 10 percent.
On Thursday, the German Bundestag passed a bill aimed at limiting the rise in fuel prices. Its main assumption is to introduce the principle according to which gas stations will be able to raise prices only once a day. If the project is also adopted by the Bundesrat, the second chamber of the German parliament, in the future fuel prices in Germany will only be able to be raised at noon. Violation of this rule will result in fines of up to PLN 100,000. euro. It is expected that the new regulations may come into force before Easter.
The government of Chancellor Friedrich Merz announces next steps. Merz has already declared that the package “will not be enough to reduce prices to a level acceptable to consumers.” The solutions considered include: a temporary reduction in energy tax, a higher relief for commuters, the introduction of maximum fuel prices and a tax on windfall profits imposed on corporations.
For now, the French government does not provide direct aid to reduce fuel prices at gas stations. Activities undertaken so far are targeted at specific industries: agriculture, fishing, road transport. These include, for example, loans for fuel for agricultural machinery and the possibility of deferring the payment of contributions and taxes. In addition, the authorities asked refineries to assess the possibility of increasing their production capacity.
In Italy, 87 percent with over 20 thousand gas stations reduced fuel prices after the government decree entered into force on Thursday reduced excise duty for 20 days by 25 eurocents per liter of petrol and diesel oil. According to government audits, 4.5 percent. fuel distribution points increased prices.
From March 10, Hungary has a fuel price cap, set by the government at 595 forints for gasoline and 615 forints for diesel oil (PLN 6.5 and PLN 6.7, respectively).. The limit only applies to vehicles with Hungarian license plates and registered in Hungary. The authorities explained that this measure was introduced in response to the war in the Middle East and the suspension of crude oil supplies via the Druzhba pipeline running through Ukraine at the end of January. The oil pipeline became the target of an attack by Russia. On Wednesday, Hungarian Prime Minister Viktor Orban announced the suspension of gas supplies to Ukraine until oil supplies are resumed.
Czech politicians maintain their earlier declaration that they will intervene in the fuel market only when the price of a liter of diesel oil exceeds 50 crowns (approximately PLN 8.72). In some regions this limit was even exceeded, but the Ministry of Finance stated that it would only take into account the average from the entire country. According to analysts, decisions may be made on Friday or Monday at the latest. On Thursday, Prime Minister Andrej Babisz appealed in a video to the main fuel companies present on the Czech market: ORLEN Unipetrol and MOL, to reduce fuel prices, which he called “outrageous”.
To protect its own fuel market, Slovakia has introduced, among others: restrictions on refueling diesel oil, and double prices began to be applied at gas stations. Foreign drivers pay more than Slovak registration holders. On Thursday, the Ministry of Finance announced that from Friday, the price of diesel oil for cars from abroad will increase even more, to EUR 2,012 per liter. As of Monday, foreign drivers already pay more for diesel than Slovaks – EUR 1,826. The government's decision will be valid for 30 days.
The Swedish government announced on Monday a reduction in taxes on gasoline and diesel oil from May, as well as the introduction of subsidies on electricity bills. According to the government's estimates, thanks to the tax reduction to the lowest possible level in the EU, the prices of petrol should drop by approx. 1 crown (approx. PLN 0.4) and diesel by 0.4 crowns (approx. PLN 0.16). The government also announced that it would ask the European Commission for permission to further reduce fuel taxes to put even more pressure on high prices at gas stations.
On Thursday The Spanish parliament is voting on the government's social shield project to stop the rapid increase in energy prices. The package of solutions presented by Prime Minister Pedro Sanchez includes 80 measures with a total value of EUR 5 billion, including: reducing VAT on fuel and energy from 21 to 10 percent. The government in Madrid announces further investments in renewable energy, which accounts for over 50 percent. Spanish energy mix, and is also seeking to increase gas supplies, among others. from Algeria.
From Monday In Portugal, there is a tax reduction on petroleum and energy products, the so-called ISP. This is the third reduction of this tax in March. The tax reduction was 2.6 euro cents per liter for diesel and 1.4 cents per liter for petrol. According to government forecasts, this week the price of diesel oil will increase by an average of 12.3 eurocents per liter, and gasoline by 7.4 eurocents.
The United States and Israel attacked Iran on February 28. In response, the Iranian army began shelling military and civilian targets in the region, including American bases, but also mining infrastructure. Iran has also virtually blocked the Strait of Hormuz, which is crucial for the transport of oil and gas. (PAP)
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