Austria Extends Fuel Price Brake for August

Austria will increase its mineral oil tax reduction to 1.9 cents per liter starting August 1 as fuel prices continue to rise.

The Austrian government is extending its fuel price brake regulation, which was set to expire at the end of July. Starting August 1, the mineral oil tax will be reduced by 1.9 cents per liter, an increase from the 0.8 cents reduction seen in July and 1.7 cents in June. This follows a significant 10-cent relief measure implemented in April. The Finance Minister is returning additional value-added tax revenue generated by higher fuel costs to consumers. Fuel prices in Austria have been climbing since the start of July, with diesel costs temporarily surpassing two euros per liter for the first time in nearly three months. The new 1.9-cent relief for August aims to mitigate these rising costs as the previous regulation concludes.