Germany cuts energy tax to lower soaring petrol prices
Summary
Germany will lower taxes on gasoline and diesel by about 17 cents per litre starting in October to help drivers with rising fuel costs. This includes cuts to both the energy tax and sales tax, following pressure from high oil prices and upcoming elections.Key Facts
- Germany will reduce gasoline and diesel taxes by €0.17 per litre from October.
- The cut includes €0.14 from the energy tax and €0.03 from the sales tax.
- Fuel prices recently reached over €2.28 per litre, a record high.
- High oil prices are partly caused by ongoing conflict in Iran, pushing crude oil above $100 per barrel.
- Chancellor Friedrich Merz promised to ease fuel costs amid falling approval ratings.
- Elections in Berlin and Mecklenburg-Western Pomerania soon may impact Merz's conservative party.
- Previously, Germany lowered the energy tax from May to June, temporarily reducing fuel prices by a similar amount.
- Berlin is also considering a fuel price cap linked to oil prices, with discussions ongoing.
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