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Europe Uses Subsidies, Taxes and Policy Pauses to Offset Pain of High Fuel Price
Governments are widening subsidies and tax cuts as Europeans face record pump prices and 203 million euros in extra daily diesel costs, Transport & Environment said.
- On Tuesday, the French government announced a 450 million-euro package to expand relief measures, joining other European nations in enacting subsidies to cushion consumers and businesses from record-high fuel prices.
- Ongoing wars in the Middle East and Ukraine have disrupted global energy supplies, forcing the European Union—which imports 85% of its natural gas—to scramble for resources amid soaring costs.
- To assist citizens, governments are issuing energy vouchers worth 48 euros to 277 euros to 5.8 million families, while Transport & Environment reports EU drivers spend an extra 203 million euros daily on diesel.
- Brussels is currently lobbying Washington to drop a proposed ban on overseas diesel sales, as the European Union has become increasingly dependent on the United States for energy supplies.
- European Commission President Ursula von der Leyen stated that greater electrification could reduce the bloc's annual bill for imported fossil fuels by 260 billion euros by 2040, enhancing long-term energy security.
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Some European governments are cutting fuel taxes, offering subsidies and adjusting energy regulations to cushion the impact of historically high gasoline and diesel prices. While the EU faces the added risk of potential U.S. restrictions on diesel exports. The post How European governments are trying to cushion the shock of fuel accuracy – Athens is in no hurry appeared first on in.gr.
·Greece
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Europe uses subsidies, taxes and policy pauses to offset the pain of high fuel prices
Wars in the Middle East and Ukraine are driving governments across Europe to craft subsidies, taxes and policy revisions that might shield their economies, companies and increasingly aggrieved citizens from record gasoline and diesel prices.
·Vancouver, Canada
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Total News Sources40
Leaning Left16Leaning Right3Center10Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 35%
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