To Combat High Costs
Fuel Price Cap Could Rise Sharply Starting in October
Diesel and gasoline prices have risen to new record highs in recent weeks. As a result, the fuel price cap—currently set at 1.9 cents per liter—could be raised significantly again in October. The “Krone” shows you where you can fill up for the lowest price right now—and how much the government is collecting.
Kronen Zeitung als bevorzugte Google-Quelle hinzufügen Fuel prices in Austria are at record levels and may rise even further. The government has promised to return the additional VAT revenue to drivers through a lower mineral oil tax (MÖSt). At the end of last month, the Ministry of Finance therefore set a fuel price cap of 1.9 cents per liter for September.
Significant Increase Likely
Given the recent rise at the pumps, it is very likely that more will be returned to drivers in October. It is not yet clear exactly how much the price cap will be, but the Ministry of Finance emphasizes that “the additional revenue will be returned in full.” ÖAMTC traffic expert Martin Grasslober has calculated, based on earlier statements by the finance minister and the current fuel price, that up to 1.3 cents per liter in addition to the current 1.9-cent fuel price cap would be entirely justified.
Finance Minister Wants Margin Caps on Oil Multinationals
Apart from that, Finance Minister Markus Marterbauer (SPÖ) once again spoke out in favor of capping the margins of oil companies on Friday at the finance ministers’ meeting in Dublin. He essentially stated that no one should be making a fortune off the conflict in the Middle East. The ÖAMTC also criticizes the sharp rise in refinery margins this year and sees a “decoupling” from the price of crude oil. The ÖVP, however, is not in favor of another margin cap—and instead prefers to look to Germany for inspiration.
Pernkopf: “Suspend the CO₂ tax or lower the value-added tax.”
There, CDU Chancellor Friedrich Merz, who is under political pressure, has announced “fuel relief” measures; he plans to lower the value-added tax on diesel and gasoline from 19 to 7 percent. It’s an initiative the ÖVP also hopes to capitalize on. Back in the spring, Lower Austria’s Vice Governor Stephan Pernkopf called in the *Krone* for a suspension of the CO₂ tax or a reduction in the mineral oil tax along with the value-added tax (which was partially implemented).
Now, the focus is on CO₂ pricing and, more recently, value-added tax as well. “The immensely high fuel prices must come down to relieve the strain on the economy and make life easier for people. To that end, all measures must be examined and implemented quickly,” he explains.
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