Czech PM moves to cap fuel markups, cut diesel tax

Czech Prime Minister Andrej Babiš announced plans to cap fuel markups for distributors and reduce the excise tax on diesel fuel.

The government will set a daily maximum price for fuel, with distributor markups on diesel capped at $0.12, Caliber.Az reports, citing Czech media.

The excise tax on diesel will be cut by $0.11, effective from April 8.

On April 13, the cabinet will review a bill granting the government authority to regulate fuel prices and markups.

Babiš also noted that Central European countries are not coordinating their energy sector actions and expressed hope for a swift resolution to the Middle East conflict that has triggered the ongoing energy crisis.

By Bakhtiyar Abbasov