Portugal cuts fuel taxes to limit price hikes at the pump
The Peninsula
Lisbon: Portugal announced Friday it was renewing a temporary cut to fuel taxes to limit the impact of the soaring price of oil due to conflict in the...
Lisbon: Portugal announced Friday it was renewing a temporary cut to fuel taxes to limit the impact of the soaring price of oil due to conflict in the Middle East.
The government said the cut would apply to petrol as well as diesel.
"Taking into account the evolution of fuel prices, the government will apply a new temporary reduction" in fuel taxes, said a finance ministry statement.
The new measure, taking effect Monday, would lead to "real savings of 1.8 cents per litre for diesel and 3.3 cents for petrol", it added.
Without the measure the price of a litre of diesel would have risen by 9.8 euro cents and 10.5 cents for petrol, said the ministry.
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