Poland's lower house passes fuel price-cap bill
The Sejm, the lower house of the Polish parliament, has passed an amendment introducing maximum price caps for petrol and diesel, aimed at cushioning the effects of the Middle East crisis on consumers.
On Friday, lawmakers approved the bill by a wide margin, with 428 votes in favour and 12 against.
Under the proposed regulations, the maximum fuel price will be calculated using a formula comprising the average domestic wholesale price, excise duty, the fuel fee, VAT and a retail margin capped at PLN 0.30 (EUR 0.07) per litre.
The energy minister will set the cap through an official notice, with new rates taking effect the following day.
Furthermore, the lower house unanimously voted in favour of an amendment authorising the finance minister to cut the excise tax on fuels to the minimum levels permitted under EU regulations until June 30. The reductions of PLN 0.29 on petrol and PLN 0.28 on diesel are scheduled to take effect by April 3, ahead of the Easter holiday.
Lowering fuel prices has become a key priority for the Polish government, which unveiled new measures on Thursday and submitted a corresponding legislative package to the Sejm the same day. The Senate is scheduled to consider the bills later on Friday before forwarding them to the president for signature.
At present, 95-octane petrol in Poland costs around PLN 7.00–7.50 (EUR 1.64–1.76) per litre, while diesel prices range between PLN 8.00 and 9.00 (EUR 1.87–2.11).
The military conflict with Iran, launched by the US and Israel on February 28, has led to a surge in the prices of crude oil on global markets. The prices of the commodity have been hovering around the USD 100 per barrel mark for the last three weeks, which compares to around USD 65 per barrel just before the conflict. (PAP)
aj/jch
