Fuel price reduction set to be delayed

The price reduction for petrol and other fuel planned for November 1 is likely to be pushed back to November 3 as the bill has not yet been passed, it emerged on Friday.

The ministry of finance maintains that the bill has been forwarded to parliament but sources claim it has yet to be submitted, according to Philenews.

Eight days ago, among other cost-of-living relief measures, the state announced the decision to reduce the tax on fuel (unleaded petrol and diesel) by 8.33 cents per litre from November 1 until February 29. A budget cost of €21.8 million had been set for the measure.

However, this did not happen as the plenary did not meet yesterday due to the absence of a large number of MPs abroad.

The next meeting of the plenary session, scheduled for Thursday, November 2, is now expected to approve the bill, which will come into effect the following day, to give fuel station owners time to change their prices.

According to the daily, sources assured that that the number of days of delay to implementation of the measure, will be added to the end of the period, thus the measure’s expiration may be pushed out to March 3.

The second bill to be submitted concerns the reduction of the consumption tax on heating oil by 6.39 cents per litre. That measure is set to go into force on December 1 through to March 31, and its cost has been pegged at €3.8 million.

Despite requests to implement the fuel consumption tax reduction starting in November, the finance ministry has judged this to be unnecessary due to the unseasonably mild weather.