A law on fuel price caps has come into force in Poland, DPA reported.
The measure is financed by a new tax on oil companies' windfall profits. The government hopes the new measure will make gasoline and diesel significantly cheaper for drivers.
The package of measures to ease fuel prices, which will be in force until the end of the year, reduces VAT on fuels from the current 23% to 8%.
In addition, the Ministry of Energy will set the maximum price daily. The maximum price for the weekend and this Monday is €1.54 per liter of regular gasoline, €1.73 for premium gasoline and €1.80 for diesel.
The average fuel prices in Sofia today are around €1.68 for A95 gasoline, €1.89 for A109 gasoline and €1.90 for diesel, according to a report on the Fuelo platform.
Analysts indicate that this represents a saving of up to 32 cents per liter for drivers, depending on the type of fuel.
We recall that the President of Poland, Karol Nawrocki, signed the law on the tax on extraordinary profits late Thursday evening. This paved the way for a new package of measures to ease fuel prices by the country's center-left government.
The law imposes a 60% tax on windfall profits from the sale of liquid fuels. It applies to windfall profits made between March 1, 2026, and March 31, 2027, by fuel producers and companies holding a license for cross-border fuel trade. The revenues received will go directly to the state budget, the PAP summarized.