February 4, 2023

Hardwood Paroxysm

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Fuel, so are prices and taxes in other European countries

The petrol price boom is not only an Italian issue, but a European one. This was recorded by the Authority’s weekly bulletin and put on paper as the increase in excise duties, VAT and other indirect taxes at the beginning of the year increased the cost of fuel at the pump almost everywhere.

Among the countries where growth has experienced a real boom, two countries stand out: Italy and France. That is, countries that, according to the European executive, taxes on petrol and diesel more.

In the bulletin, the committee mentions how Luxembourg, Poland and Sweden have increased value-added tax and excise duty. Italy and Portugal increased their excise duties. Austria and Latvia raised other indirect taxes. France stopped retail price deductions and increased excise duty on diesel. Compared to the first week of the year, according to the latest report edited by the European Commission, it is starting to stabilize.

Map of price hikes in the European Union

The most obvious differences are observed in reality between the price list of January 9 and the price list of December 26, the end of 2022. Looking at the details in the EU Commission maps on the excise tax on petrol and diesel, it should be noted that Paris applies taxes of 54% and 49%, respectively, Rome 58% and 51%. The European average is 50.7% and 42.1%. In France, prices have increased from 1.65 euros per liter (petrol) and 1.74 (diesel) to 1.85 and 1.89. In Italy, according to the Brussels survey, the increase was from 1.62 euros / liter for petrol and 1.69 for diesel, to 1.81 and 1.87. Prices remained stable in Germany, with petrol down slightly, from 1.74 to 1.71 €/l, and diesel up 1 cent, from 1.81 to 1.82 €. In Spain, they went from 1.56 and 1.64 at the end of the year to 1.61 and 1.68 in the second survey of 2023.

Lithuania bucks this trend

The price hike, within a few weeks, spread like wildfire, from Latvia to Bulgaria. In contrast, and slightly decreased, prices in Lithuania: 1.49 for petrol and 1.65 for diesel in December, 1.48 and 1.64 in the last survey. And those who set a national ceiling for fuel prices in recent months were not spared from this trend.