Lates News

The German government announced on the 18th that it has reached an agreement with the federal states on a package of relief measures, including implementing a new round of fuel tax cuts and setting a cap on fuel prices, to ease the pressure on households and businesses caused by persistently high fuel prices. Under the plan, the German government will reduce energy taxes so that gasoline and diesel prices actually drop by about 17 euro cents per liter. The relevant measures are planned to be implemented before October 1 and will last until the end of this year, with this round of tax cuts amounting to about 2.5 billion euros. This fuel tax cut is similar to the temporary measures implemented from May to June this year, which are expected to reduce this year's tax revenue by 1.6 billion euros.