The German Parliament today approved, by a large majority, a reduction in fuel tax.
Under the measure, the tax will be reduced by 17 euro cents per litre from 1 October. The regulation is initially planned to remain in effect until the end of the year.
At the same time, the German Finance Ministry is preparing additional measures concerning fuel prices, including the possible introduction of a price cap modelled on the arrangements in force in Luxembourg and Belgium.
The tax reduction until December is expected to cost the state coffers 2.5 billion euros.
The German Finance Ministry is calling on oil companies to ensure that “the relief really reaches consumers’ pockets”.
However, economists remain sceptical, estimating that the measure will burden the state coffers without ultimately delivering results.
Meanwhile, a poll by broadcaster ZDF shows that 50% of respondents view the measure positively, while 44% reject it.
Source: CNA
