The fuel will increase about one cent per liter from Monday, according to industry sources. After the low tax on oil products (ISP) in a cent, which was applied Friday for government decision, the prices back to square one in next week’s start. Low prices will last, so a weekend.
The update of diesel and gasoline prices, announced on Thursday by the ministries of Finance and Economics, betrayed the expectations of a reduction of two cents. A diesel tank of 45 liters is costing roughly 52.92 euros, taking into account the average price of diesel on Thursday (1.176 per liter). A low of one cent in the ISP equal the final price to 1.23 cents, since the VAT is the last tax to be applied. But the low provided by the Government means a 55 cent savings in that same tank of diesel.
What was the justification for the government to download only a cent in the ISP? The values described in the statement, distributed Thursday, do not coincide with those published by the National Authority for the Fuel Market (TNGC).
In any case, the government says, “in January, prices reference gasoline and diesel fuel calculated by TNGC amounted respectively to 1,118 and 0.861 euros per liter. ” Now, the monthly value of gasoline was 1.12 and not 1,118 euros. The diesel reference value is already correct (0.861 euros).
Second, the Government argues that, “in April, three months in the previous period, and excluding the effects of Ordinance No o 24-a / 2016 [which dictated the 12 February the rise in ISP 0.06 euros], there was an increase in those prices on gasoline 0.0465 and 0.0385 euros in diesel. ” It took 4.5 cent increase to download the ISP in a cent. Even using those values of the Government and if it was not subtracted from the increased ISP in February, the price increases would be around 10 cents, an amount that would allow low-tax two cents.
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