Spain to Cap Gas Price Hikes, Extend Fuel Discounts
- On Tuesday, Spain's Council of Ministers is set to approve a fuel discount of 20 euro cents per litre for October, as Economy Minister Carlos Cuerpo cited a "significant deterioration" of the situation.
- Spiralling energy costs, exacerbated by global turmoil following US-Israeli strikes on Iran, pushed Spanish inflation to 4.9 percent in September, prompting the government to "extend and adapt" support measures.
- Ecological Transition Minister Sara Aagesen announced a cap on gas prices, warning that costs for households would rise by more than 45 percent starting next month without intervention.
- Discounts will progressively decrease to 13 euro cents in November and six cents in December, though Cuerpo explained a "reactivation clause" remains available if prices spike by more than 15 percent.
- The broader support package carries a total cost of five billion euros, and the government states these measures helped 20 million households and three million businesses since March.
84 Articles
84 Articles
This discount on fuel had already been introduced in September in Spain, but it is considerably extended by October.
The Spanish government has announced that it is extending support measures for households and businesses to limit the economic impact of hostilities in the Middle East. It foresees the implementation of a discount on gasoline and diesel in October, set at 20 cents per liter. “What we are doing is extending and adapting the measures” taken in March, then extended for the first time in June “until December 31,” explained Economy Minister Carlos Cu…
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The Spanish Government today gave the green light to the third package of measures in force until the end of the year, in order to contain the economic impact of the war in the Middle East, with the extension of the discounts to fuels and a roof to the increase of the regulated tariff... (ANSA)
The measures, which according to Carlos Córdoba will have a cost of 12 billion euros, will be in force until 31 December.
Spain to cap next increase in regulated gas prices for households at 15%
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