Fuel prices expected to fall sharply from July 1

The government's temporary reduction of the carbon tax from July 1 is expected to lower petrol and diesel prices by around three kronor per liter.

The government is implementing a temporary reduction of the carbon tax on petrol and diesel from July 1. The measure aims to ease the effects of high fuel prices.

Combined with an earlier tax cut, the price at the pump could fall by around three kronor per liter. The effect is expected to be noticeable already during the day.

Tindra Bergkvist Holm from Enviken says she will drive more now that prices are falling.

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German gas station at midnight displaying reduced petrol and diesel prices after the government's 17-cent-per-litre tax cut takes effect.
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Fuel tax cut on petrol and diesel takes effect

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The German government's fuel discount took effect at midnight. Taxes on petrol and diesel drop by about 17 cents per litre for two months. It remains unclear how quickly pump prices will reflect the cut.

The petrol price has dropped to 14 kronor and 14 öre per liter at stations in Jönköping. The government has temporarily cut the tax on petrol and diesel by 3 kronor per liter until 30 September.

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A temporary reduction in taxes on gasoline and diesel in Sweden takes effect on Wednesday, which is expected to trigger a rush to the pumps especially from Norwegian customers.

Analysts expect fuel prices in South Africa to fall significantly due to declining global oil prices and a stronger rand. The Central Energy Fund forecasts petrol prices could drop by up to R2,94 per litre and diesel by as much as R4,97.

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Oil companies in the Philippines began implementing steep fuel price cuts on Tuesday, June 2, with diesel falling by P9.26 per liter. The Department of Energy set the reductions for the week of June 2 to 8.

The National Petroleum Company reported minor fuel price changes on Wednesday that take effect Thursday, May 7. 93-octane gasoline rises 0.1 pesos per liter and diesel falls 47.3 pesos, while kerosene stays the same.

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The government and the Sweden Democrats plan to halve the price of monthly public transport passes nationwide from July 1 until year-end. A support package of around 7 billion kronor will go to regions to cover revenue losses.

 

 

 

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