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Government Wants to Lower Fuel Prices

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Prices for gas and diesel are rising in Austria. The war in the Middle East is the reason. Israel and the USA fight against Iran there. This makes oil very expensive worldwide.

The federal government in Austria wants to help now. Federal Chancellor Christian Stocker showed new plans. Prices should drop by about 10 cents per liter. The state lowers taxes on fuel for this.

There will also be a price cap. This means: Companies must not make too much profit. These measures should start in April. The USA also has changes about energy.

President Donald Trump stops building windmills in the sea. He pays a company almost 1 billion dollars for this. He wants to promote more oil and gas instead. Trump says windmills are too expensive and not good.

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Definitions

Mineral Oil Tax
This is a tax on fuels like gas or diesel. People who refuel pay this tax to the state.
Price Cap
This is a limit for prices. A product must not be more expensive than this limit then.
Profit Margin
This is the part of the price a company keeps as profit. The government wants to limit this margin.

People

Christian Stocker
He is the Federal Chancellor of Austria. He belongs to the ÖVP party.
Donald Trump
He is the President of the United States of America (USA).

Locations

Austria
A country in Central Europe. The government plans measures against high fuel prices there.
Iran
A state in the Middle East. It is at war with Israel and the USA.

Sources

Logo ORF
ORF

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5 Minuten

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Ölhandel kurz vor Trump-Posting gestiegen

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Stern

Trotz Ölkrise: Trump investiert eine Milliarde in Windkraft-Stopp

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Logo Die Zeit
Die Zeit

Nachrichtenpodcast: Verhandeln USA und Iran – oder doch nicht?

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ORF Wien

Tanken: Ruck fordert höhere Spritpreisbremse

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