Ministry of Finance: There is no reason to lower fuel tax – Jornal de Negócios – Portugal

Fuel prices rise again early next week, in what will be the third increase in a month, following the evolution of prices in international markets, but the government points to a set of data to justify the maintenance of the expected increase in State budget for 2016 (OE2016), which entered into force on 12 February.

in a statement, the Ministry of Finance collects data showing that the only reversal in the evolution of fuel prices since the fourth week 2016, which served as a reference to tax update is diesel, being “just a penny above.”

“the Finance Ministry regularly monitors the evolution of fuel prices in the international market and in the domestic market, aware of the objective of a trend towards fiscal neutrality of the increased ISP that framed the update of its value, by decree, six cents per liter on petrol and diesel, “he says.

data published by the National Authority for the Fuel Market (TNGC) show that in gasoline prices in international prices and freight is five cents lower than at the beginning of the year and two cents below the price in the week served as a reference for updating the tax.

with regard to diesel fuel, the price of international prices and freight is three cents below the beginning of the year and “just one cent above the price in the week that served as a reference to tax update.”

Remember that the data TNGC reflect the price of the refinery, excluding marketing margins, defined by each operator, as part of its commercial strategy.

increased ISP was justified by the government with the need to “correct the loss of tax revenue resulting from the decrease in international prices” and also cancel “additional negative impacts on the environmental level and the volume of national imports caused by increased consumption promoted by reduced selling price to the public “.

But the executive António Costa admitted alleviate this increase of six cents per liter if the oil price prices rise, which would contribute to the increase of the consumer price.

hauliers meet today in Pombal to study actions, failed attempts at negotiation with the government to minimize the impact of this increase in the ISP business.