Lithuania’s cabinet will convene Friday to discuss a proposal to temporarily reduce excise duties on diesel fuel in response to price increases linked to conflict in the Middle East.
Lithuania Considers Diesel Fuel Tax Cut
A government meeting will be held Friday to address a single issue: a proposal to temporarily lower the fixed portion of the excise duty rate for both standard and agricultural diesel fuel until mid-June, according to Ignas Dobrovolskas, a spokesperson for the prime minister.
The Finance Ministry submitted amendments to the Law on Excise Duties in late March, seeking to maintain the lower rates through June 15.
The proposed amendments would adjust the fixed components of the excise duty, reducing the final rates to 503.6 euros and 35 euros per 1,000 litres for standard and agricultural diesel, respectively. The ministry estimates this could result in a price decrease of approximately 6 cents per litre.
Parliament will be asked to consider the tax cuts using an urgency procedure.
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