Poland introduces a cap on fuel prices to protect consumers from the global rise in oil prices. The decision, adopted by the Warsaw government, will come into effect on March 31. Pump prices will thus be limited daily, at 6.16 zlotys (approximately 1.55 euros) for gasoline and 7.60 zlotys for diesel, reports IPN.<\/p>\n\n
The measure is part of a larger package, which includes the reduction of VAT from 23% to 8% and the decrease of excise duties to the minimum European level. Prime Minister Donald Tusk emphasized that these measures will reduce inflation and will ease the financial burden on citizens.<\/p>\n\n
To implement the capping, the Polish Ministry of Energy will apply a daily calculation formula, including wholesale prices, excise duties, VAT, and a margin of 0.30 zlotys per liter. Retailers who do not comply with the new limits will risk fines of up to one million zlotys.<\/p>\n\n
The measures will have a significant budgetary cost, estimated at 700 million zlotys monthly for capping and 900 million zlotys for the VAT reduction. The government is considering a tax on exceptional profits for oil companies, in case of excessive earnings.<\/p>\n","protected":false},"excerpt":{"rendered":"
Poland introduces a cap on fuel prices to protect consumers from the global rise in oil prices. The decision, adopted by the Warsaw government, will come into effect on March…<\/p>\n","protected":false},"author":31,"featured_media":94256,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[133,137],"tags":[23262,7429,9178,910,3124,7430,33789,10275,3015,605],"class_list":["post-362963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-politics","tag-capping","tag-diesel-fuel-en","tag-donald-tusk-en","tag-foreign-affairs","tag-fuel-en","tag-gasoline-en","tag-milosz-motyka","tag-oil","tag-poland","tag--en"],"yoast_head":"\n