Shock prices from the gas station, it runs towards 3 euros per liter: how much do the taxes affect

The war in Ukraine goes on, the price of fuel continues to rise and it is not excluded that – in the coming weeks – it may even reach 3 euros per liter. One of the tools to cope with such a sharp rise in prices is the reduction of taxes on gasoline, one of the components that weigh more. But it might not be enough.

How much do fuel taxes weigh?

Fuel taxes in Italy are some of the components that weigh the most on the formation of the final price, made up of 3 parts:

  • The net price, ie what is sold without taking into account the taxes applied;
  • VAT, the value added tax applied to the net price, in this case at 22%;
  • Excise duties, another government tax on the production and sale of consumer goods.

The increase in fuel prices in the survey of the Mite

VAT and excise duties are the most important components of the fuel price. For example, in the latest update of the Ministry for Ecological Transition (Mite) on fuel prices, a liter of gasoline cost € 1.953, of which around 72 cents for excise duties and 35 cents for VAT. The tax-free price was 87 cents. Thus, taxes make up almost 55% of the price of gasoline.

The price of fuel: where we are

Compared to the previous week, fuel prices have risen further. The price of gasoline increased by 8 cents, which cost € 1.953 per liter on average between February 28 and March 6, according to the Mite survey. In some cases even over 2 euros, compared to the price of 1,870 euros per liter of the previous week. Same problem for diesel, which suffers a rise identical to that of petrol. Plus 8 cents, reaching 1.829 euros per liter compared to 1.740 euros for the week between 21 and 27 February. Heating oil also increased, rising to just over 15 cents: € 1,715.92 per liter from € 1,565 the week before. Since the beginning of the year, petrol has risen by 13.3%, diesel by 15.2%.

The president of the National Consumers Union said that “the government continues its long hibernation on expensive fuels, pretending nothing has happened, so as to be able to silently collect millions more thanks to VAT. But now with the war in Ukraine or it wakes up and slows the take-off of prices due to energy goods or inflation will overwhelm families and their purchasing power “. A national truck strike was announced for March 19, promoted by the Union of road transport associations.

What can be done to lower the price of fuel?

The Government has worked to smooth out the energy price increases and the positive news could come from the conversion law of the so-called “Bill decree”, even if not decisive: “We hope that there are additional resources, it would be really appropriate – said the rapporteur of the draft Luca Squeri (Forza Italia), on the sidelines of the proceedings, reads to the Productive Activities Commission of the Chamber – We must, however, discuss with the Government, which we will do in the next few days. . It is starting to be a significant figure, 10 cents a liter, which is not much compared to the surge in prices but at least it is something, “he adds.

Source: Today.it

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About David Martin

David Martin is the lead editor for Spark Chronicles. David has been working as a freelance journalist.

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