Gas Prices Fall in Spain, EU
Spain lowered gas prices by 16.6% starting April 1st. This was done by reducing the Value Added Tax (VAT). The change affects residential customers using the ‘Tarifa de Último Recurso’ gas plan.
The Spanish government made this change to help with the energy crisis. The reduction in VAT lowered the price of gas. This is the first decrease in fuel prices in the European Union since the Iran war. Gas prices are now 1.557 euros per liter, and diesel is 1.777 euros per liter. These prices are lower than they were the week before.
Summarized from the sources above. Read the originals for the full story.
Highlights
Gas Price Reduction Announced
Spain will lower the regulated gas price by 16.6% starting April 1st.
VAT Decrease Included
The price cut includes a reduction in Value Added Tax (VAT).
TUR Applies to Residents
The reduction applies to the ‘Tarifa de Último Recurso’ for homes.
EU Fuel Price Decrease
Spain’s tax cut caused a decrease in fuel prices across the EU.
Current Fuel Prices Reported
Gasoline is 1.557 euros per liter and diesel is 1.777 euros per liter.