Filenews 4 March 2022
Less than 8.3 cents a litre will be paid from next Tuesday the 8th of the month, until June 1, by consumers when they procure fuel. The Council of Ministers decided to reduce consumption taxes on gasoline, diesel, as well as heating oil, so that consumers can take a breather from the rally in fuel prices, which have already hit the red and are expected to increase further in the coming period, due to the consequences of the Russian invasion of Ukraine.
Yesterday the Plenum of the House summarily approved a bill, which was tabled in the form of urgency and provides for the reduction of excise duties on 95 and 98-octane gasoline and diesel traffic by 7 cents per litre. If VAT is added, then the reduction is 8.3 cents per litre. At the same time, consumption taxes were reduced by 5.32 cents per litre (including VAT) on heating oil as well.
According to the fuel price observatory of the Consumer Protection Service of the Ministry of Energy, yesterday the average price of unleaded 95-octane gasoline was €1,440 and from Tuesday the price will go down to €1.36, unless of course there are any more increases... For example, if someone today refuels his vehicle with 30 litres of gasoline, he will pay a total of €43.20 (based on the average price that was in force yesterday) while with the reduction he will pay €40.21, that is, he will pay €2.49 less, if the same prices remain from the suppliers.
Also, today someone pays €57.60 cents when he puts 40 litres of 95-octane petrol, while with the reduction he will pay €3.32 less, i.e. €54.28, if yesterday's average price remains the same until Tuesday. In addition, if someone puts on 50 litres of gasoline by midnight on Monday, he will pay €72, while with the reduction in excise duties he will pay €67.85.
Yesterday, the average price of unleaded 98-octane petrol was €1,509 per litre and diesel was €1,498 per litre. Specifically, for 30 litres of unleaded 98-octane petrol the consumer will pay today €45.27 and after the reduction of €42.78, while for diesel today he will pay €44.94 while from Tuesday onwards he will pay €42.45.
Compared to heating oil, yesterday the average price was €1,026, while from the 8th of the month it will be reduced by 5.32 cents.
The fiscal cost to the state from the reduction of consumption taxes is around €40 million. Meanwhile yesterday the Council of Ministers decided to extend for another two months the reduction of VAT on electricity. Specifically for households, the reduction of VAT to 9% is extended until the end of April. Vulnerable consumers will also pay 5% VAT by the end of June.
