New Excise Tax Rules To Lift Vehicle Fuel Prices
- 30 Sep 2016 12:31 PM
Wholesale vehicle fuel prices in Hungary will rise about 6-13 (EUR 0.02 – 0.04) forints per litre from Saturday, when new rules on excise tax take effect. The price of petrol will rise by 6.4 forints per litre, bringing the price at the pump to around 340 forints.
The price of diesel will increase by 12.7 forints, raising the pump price to around 346 forints, industry insiders told MTI.
In June, lawmakers decided to link the excise tax content of vehicle fuel to global oil prices.
If the price of Brent is under 50 dollars per barrel, the content rises, and if it remains over that price threshold, the content is returned to earlier levels.
The price of Brent has been under 50 dollars per barrel for most of the third quarter.
Republished with permission of Hungary Matters, MTI’s daily newsletter.
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