How Austria’s Bigger Fuel-Price Brake Is Set to Affect Drivers From October
The package would cut taxes and restore a margin cap as the government seeks to lower petrol and diesel costs by more than 12 cents per litre.
- From October 1st, Austria's VP-SP and NEOS coalition will implement a stronger Spritpreisbremse to lower fuel costs, with the government expecting the package to reduce petrol and diesel prices by more than 12 cents per litre.
- Fuel prices climbed sharply in recent weeks, with Diesel reaching a record 2.279 per litre on the 17th, while the current intervention reducing the mineral oil tax by 1.9 cents proved much smaller than the upcoming measures.
- The mineral oil tax will fall by 6.7 cents per litre while a 3.5-cent-per-litre reduction in fuel-industry margins returns; a lower underlying fuel price also reduces VAT charged, contributing to the total relief.
- These measures require parliamentary approval, with a special Nationalrat sitting scheduled for the 28th and consideration in the Bundesrat following on the 29th, with the reduction set by regulation for individual calendar months.
- The Austrian Federal Economic Chamber and The Federation of Austrian Industries oppose the margin caps, citing potential supply issues, while PRO-GE supports the intervention, arguing it prevents excessive crisis profits for the fuel industry.
13 Articles
13 Articles
How Austria’s bigger fuel-price brake is set to affect drivers from October
Austria is strengthening its temporary fuel-price brake for October and November. The government expects lower taxes and new limits on fuel-industry margins to cut petrol and diesel costs by more than 12 cents per litre.
The Austrian government is preparing for another significant fuel price cut: the measures planned for October and November could reduce the price of gasoline and diesel by around 12 cents per liter, writes Auto Motor und Sport. The package would simultaneously affect fuel taxes and the margins of oil industry players.
In the future, 12.2 cents per litre should be saved at the pump thanks to the fuel price brake. But is this measure sufficient as a relief for the Börserl? Our question of the day of 24 September is: "About six euros per tank filling: Is the new fuel price brake sufficient?
The Austrian government is imposing a measure to limit fuel prices. According to information from the Federal Chancellery Office, the relief will be at the rate of more than 12 cents per liter. The measure will be valid for 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 allowed by the EU, Austrian radio an…
In Austria, the price brake was demanded with reference to the tax reduction in Germany, but there one looks enviably to the small neighbour. The country demands that the federal government quickly take action against high fuel prices in Tyrol.
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