Tax reductions save 11 euros for every fuel deposit

The government loses four million euros a day in tax revenue, but without that the price per liter would be 22.5 cents more for gasoline and 21.5 cents for diesel.

The reductions in the tax on petroleum products (ISP) that the Government has promoted since October last year translate into a loss of tax revenue, by the State, of four million euros per day. JN did the math with figures from the Directorate-General for Energy and Geology (DGEG) and concluded that, without the ISP reductions, gasoline and diesel would today be more expensive by around 22 cents per litre. This represents a discount of 11 euros for each 50 liter tank.

Since September last year, the price per liter of gasoline has risen by 24.5 cents, but the increase would have been 47 cents if it weren’t for the ISP reductions initiated in October. First through a weekly review mechanism, then by reducing the tax to an amount equivalent to 13% VAT. Both remain in effect. In the case of gasoline, these reductions mean a saving of 22.5 cents per liter and imply a loss of tax revenue of 810 thousand euros, daily, for the State.

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