By Peter McLaren-Kennedy • 30 March 2022 • 20:55
Petrol stations threaten not to open tomorrow
The measures announced by President of the Government, Pedro Sánchez and endorsed by the Council of Ministers, are in response to the rising pump prices. Oil has been trading at record highs as a result of renewed economic activity following the pandemic and more recently the war in Ukraine.
So what has been agreed and how will it affect the motorist?
The reduction, which will cost the government billions in lost revenue, will be funded from a 15 cent tax reduction and a 5 cent price reduction by petrol producers.
Some companies have already the 5 cent reduction with some having applied or are intending to apply a 10 cent reduction.
The government has worked to help the average motorist cope with the rising costs of fuel, as it has businesses hard hit by the additional cost. As the price drops from Friday, it is everyone’s hope that the market returns to normal sooner rather than later.
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Originally from South Africa, Peter is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news.
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