Prices for gasoline and diesel rise in Europe. The reason is the war in Iran. World oil prices are very high. This burdens many people and companies.
The governments in Austria, Germany, and Italy now take action. They want to lower or slow down prices. In Italy, the tax on fuel drops a lot. The liter will soon cost 25 cents less there.
Austria introduces a fuel price brake. Gas stations can only raise their prices on 3 days each week. These days are Monday, Wednesday, and Friday. But they can lower prices anytime.
Also, Austria wants to limit the profits of gas stations. This is called margin restriction. Gas station owners criticize this rule strongly. They say: The state interferes too much in the market.
In Germany, the federal government plans a similar law. Gas stations should only raise prices once per day. This should bring more clarity when fueling cars.
Politicians also demand an excess profit tax. This tax collects high profits from oil companies. The companies earn a lot of money during the crisis. The state wants to relieve citizens with this money. Experts hope that inflation sinks because of this.
