From tomorrow, petrol and diesel prices will rise, thanks to higher taxes

Take advantage while you can to fill up with petrol or diesel, because once we’ve rung in the New Year we will face new price increases for petrol and diesel. All of this is due to the fact that, starting on the first day of 2013, the exemptions for biofuels are being removed, with the likely pass-through of this new levy to the end consumer.

From January 2013, the rate of the Hydrocarbon Excise Duty will no longer be zero and will have to be the same as that of conventional motor fuels. In this way, bioethanol and biodiesel will be taxed in the same way as petrol and diesel: 424 euros and 331 euros per thousand litres.

These hydrocarbons make up only a small percentage of the fuel we buy at the service station, so the increase may not be felt too much in our pockets. We would be paying around 1.374 euros per litre for petrol (today I’ve seen prices of 1.4/1.42 euros) and 1.341 euros for diesel.

Since 2009, taxes on fuels have risen by 34%. In June 2009, the Government raised the hydrocarbon excise duty on petrol and diesel by up to 2.9 euro cents per litre; in July 2010 it raised VAT from 16% to 18%, and then to 21% in September of this year. Once again, tomorrow we have to continue suffering the effects of the crisis and price rises directly in our pockets.

Source | Autocasion