Minister Vaičiūnas: Diesel Excise Cut in Lithuania on April 14 Yielded Results
Lithuanian Energy Minister Žygimantas Vaičiūnas stated that the diesel excise duty reduction, approved by parliament on April 14, has yielded results. It helped lower the «psychological price» of fuel, driven by the Middle East conflict. The measures were appropriate, though long-term sustainability is needed.
Lithuanian Minister of Energy Žygimantas Vaičiūnas stated that the decision to reduce the excise duty on diesel fuel has already yielded results. He announced this on LRT, as reported by «European Pravda».
The Lithuanian Parliament approved a temporary reduction in the excise duty on diesel fuel on April 14. The aim of this measure was to curb the rise in fuel prices caused by the conflict in the Middle East.
Vaičiūnas noted that the effect of the excise cut was evident. «The crisis is certainly not over yet. There is a so-called psychological price for diesel fuel – two euros per liter – and it has been successfully reduced. The measures were undoubtedly appropriate as they had a certain effect, but long-term sustainability is needed,» the minister explained. He also emphasized that the reduction in excise duty affects prices gradually.
Amidst the energy crisis caused by the war in the Middle East, other countries are also taking measures. The Greek government recently announced a 500 million euro support package for the population, to be financed from the budget surplus. The European Commission unveiled an EU-level package of measures to combat the energy crisis on April 22. France plans to spend approximately 180 million euros in May on support measures due to high fuel prices.