May 24, 2022
Fuel prices have reached new highs across Europe as a result of Russia’s invasion of Ukraine. Now, a number of European countries are considering lowering fuel taxes to help drivers who are struggling to keep up with the rising costs of owning a car.
In France, a €0.15 per litre fuel refund is planned to assist cushion the impact of price increases. Motorists might save €9 on a 60-litre tank of gas, according to estimates.
A “crisis discount” has been proposed to mitigate the impact of the Ukraine conflict on German fuel prices. According to German media, prices could be slashed by 0.2 per litre, although the plan has not yet been approved by the country’s three-party governing coalition.
Fuel taxes in Sweden have also been temporarily reduced at a cost of €350 million, with car owners being reimbursed for the increase in fuel prices. Belgium and the Netherlands are also cutting taxes on fuel to cope with the crisis.
Italy has just announced intentions to subsidize new electric vehicle purchases. When purchasing a completely electric vehicle, up to €6,000 will be available, while those purchasing plug-in hybrids will receive €2,500.
Source: Euronews
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