The Austrian government is imposing a measure to limit fuel prices. According to information from the Federal Chancellery, the relief will amount to more than 12 cents per liter. The measure will apply to the months of October and November, BTA reported.
According to the Federal Chancellery, the tax on mineral oils will be reduced by 6.7 cents, and for diesel it will reach the minimum level permitted by the EU, Austrian radio and television reported.
In addition, a restriction of the trade margin by 3.5 cents per liter will be added. This will also lead to a reduction in VAT. Thus, the total relief will be more than 12 cents per liter, the Chancellery reported. The fight against inflation is one of the government's highest priorities, the motive for the measure is stated.
“The escalation in the Middle East and the related “Trump inflation“ have once again led to a significant increase in fuel prices“, said Federal Chancellor Christian Stocker in a press release. “We are responding to this development with the new measure to limit fuel prices, through which the prices of the pumps will fall.“
“We will not allow high fuel prices to be passed on to businesses and households“, said Vice Chancellor Andreas Bäbler in support of the measure. For Foreign Minister Beate Meinl-Reisinger, it is necessary to "targetedly limit these price peaks without at the same time jeopardizing security of supply and competition."
The reduction in the tax on mineral oils by 6.7 cents in October and November will be financed by additional VAT revenues, which are expected to be higher due to the increase in fuel prices compared to previous months. In addition, part of the expected additional revenues from the tax on profits from fossil energy sources will be used for the energy crisis in 2026, Babler's office announced.