Parliament passes 12 cent fuel price cut for two months
Austria's National Council passed a new fuel price brake on Monday in a special session. For October and November, petrol and diesel should cost a little over 12 cents less per litre. The law was passed with the votes of the governing parties ÖVP, SPÖ and NEOS. The Federal Council still has to approve it on Tuesday.
The relief has two parts. The mineral oil tax will be cut by 6.7 cents per litre, which brings the tax on diesel down to the EU minimum. In addition, oil companies must cut their margins by 3.5 cents per litre. Together with the 20 percent VAT that no longer applies to these amounts, this adds up to about 12 cents per litre at the pump.
According to the Finance Ministry, the measure will cost the state about 100 million euros. The government says it will slow inflation and keep Austrian fuel prices below the European average. The FPÖ called it a "sham" and said the fuel brake from March had only saved drivers about 48 cents per 50-litre tank instead of the promised 6 euros. The Greens also voted against it, saying the money should be used to move away from fossil fuels.
What to do: the lower prices are planned to apply from 1 October until the end of November, so if you can, wait until Thursday to fill up. Compare prices before you refuel using the fuel price calculator of E-Control (spritpreisrechner.at), because prices differ between petrol stations. The relief is temporary, so plan for prices to rise again from December.