Fuel excise tax reduced again - North Macedonia presents the next step to "curb" prices
North Macedonia has imposed a new excise tax cut on fuel, while expanding an existing measure, in an effort to ease price pressures. The latest measure provides for an additional excise tax cut of 4 denars (0.06 euros) per liter for diesel and 2 denars per liter for 95 and 98 octane gasoline.
The government also extended until April 20 a previously introduced measure to reduce the VAT rate on fuel from 18% to 10%, first implemented in March.
Fuel consumption rose to a record 2 million litres a day last week from around 1.5 million litres previously, driven by rising demand from drivers in neighbouring countries attracted by lower retail prices. However, there will be no restrictions, as discussions with traders and suppliers have confirmed that domestic consumers will not be affected or face any supply risks.
The Energy Regulatory Commission (KRKE) regulates the maximum retail prices of petroleum products, including fuels such as gasoline, diesel, heating oil and oil, based on reference prices on the world market and the legal framework for energy prices.
Retail fuel prices in North Macedonia have increased since before the war in the Middle East and are now 84 denars per liter for Eurosuper 95, 85.5 denars for Eurosuper 98 and 95.5 denars for Eurodiesel, an increase of about 10 denars per liter for gasoline grades and 26.5 denars for diesel, according to RKE data.
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