Fuel duty reduced

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The Aquila
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Fuel duty reduced

Post by The Aquila »

Well done to the Government 👏🏼👏🏼

A government decision to temporarily reduce the excise tax on petrol and diesel by 7 cents per litre – which increases to 8.3 cents per litre including VAT – came in effect on Tuesday.

The measure, valid till June 1, is within efforts by the government to contain costs from the rising fuel prices sparked by the war in Ukraine.

The parliament last week followed express procedures in approving the Cabinet’s proposal, Philenews also reports.

The new bill provides for the reduction of excise duties on 95 and 98 octane gasoline and 7 cents per liter on diesel. If VAT is added, then the reduction is 8.3 cents per liter.

At the same time, excise tax on heating oil was reduced by 5.32 cents per liter – including VAT.

https://in-cyprus.philenews.com/reduced ... f-tuesday/
trevnhil
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Re: Fuel duty reduced

Post by trevnhil »

That is obviously good news. Although there has also been a reduction in the pricing of Heating Oil as well, sadly there is no mention of a reduction in the price of Gas for heating ..
Trev..
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bromerzz
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Re: Fuel duty reduced

Post by bromerzz »

My local ESSO station has dropped the Eurodiesel price from €1.508 a litre to €1.428, whilst some garages are still displaying €1.50+ a litre.
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Devil
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Re: Fuel duty reduced

Post by Devil »

trevnhil wrote: Tue Mar 08, 2022 12:10 pm That is obviously good news. Although there has also been a reduction in the pricing of Heating Oil as well, sadly there is no mention of a reduction in the price of Gas for heating ..
I agree that it would have been better if bulk gas had been included. Unfortunately, some people use it for purposes other than heating.
WHL
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Re: Fuel duty reduced

Post by WHL »

Had a delivery of heating oil today, and it was at the reduced rate.
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memory man
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Re: Fuel duty reduced

Post by memory man »

WHL wrote: Tue Mar 08, 2022 2:51 pm Had a delivery of heating oil today, and it was at the reduced rate.
Exactly the same with me today.
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trevnhil
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Re: Fuel duty reduced

Post by trevnhil »

Looks like you will be needing the heating oil as there is a cold windy and wet spell forecast for the next seven days or so
Trev..
WHL
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Re: Fuel duty reduced

Post by WHL »

mouse wrote: Tue Mar 08, 2022 8:03 pm Devil, you mentioned bulk gas, I assume you mean the 500 and 1000 litre tanks ? If not for heating what do people use it for ? In industry ?
Many restaurants use it.
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Devil
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Re: Fuel duty reduced

Post by Devil »

industry, poultry farming, ceramic firing etc.
wilky
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Re: Fuel duty reduced

Post by wilky »

Ireland has reduced fuel duty by 20c unleaded and 15c on diesel
galexinda
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Re: Fuel duty reduced

Post by galexinda »

I received the latest electricity bill earlier this week for January and February and was pleasantly surprised as it was way lower than anticipated.
trevnhil
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Re: Fuel duty reduced

Post by trevnhil »

Mine was lower than expected.
But it is because there is a 'Discount based on 'CERA Decision 294/2021'
So my bill was 18-80, and we do have panels on the roof
Trev..
galexinda
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Re: Fuel duty reduced

Post by galexinda »

Fuel duty may well have been reduced but prices will soon be going up again!

'Petrol prices are set to rise further and there’s not much else Cyprus can do, as its taxes on fuel are already near the EU-set minimum limit, an industry source said on Wednesday'.

https://cyprus-mail.com/2022/03/10/tax- ... ic-warned/
bmwx5
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Re: Fuel duty reduced

Post by bmwx5 »

Pimp prices have increased from the Goverments reductions recently back around 1.41 1.44 for 95 unleaded
trevnhil
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Re: Fuel duty reduced

Post by trevnhil »

At least I have not seen any panic buying like there has been reported in the UK
Trev..
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jagwheels
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Re: Fuel duty reduced

Post by jagwheels »

Not sure where you got that information from Trev but no panic in my area. No shortage of fuel at the moment but prices have risen rapidly. Might have to get the bike out again :lol:
trevnhil
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Re: Fuel duty reduced

Post by trevnhil »

I think I am right in saying that due to the increase in Petrol prices over the last few months, the government will have been getting an increased amount of VAT.
And surely this will be so with the increases in the price of food etc
The dearer items become, then the more VAT the government get without raising the rate at all.
Trev..
galexinda
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Re: Fuel duty reduced

Post by galexinda »

I think the government is already well financed - just a shame that as with some other countries the funds are not put to better use.

As for the profits announced by some of the banks, utilities, etc, again they could be put back into the system to benefit their customers.
Sheer Khan
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Re: Fuel duty reduced

Post by Sheer Khan »

Lucky to get some heating oil at 0.9790 earlier in the week now 1.11.
trevnhil
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Re: Fuel duty reduced

Post by trevnhil »

We will need some gas very soon now and I expect it to be the dearest 'fill up' we have ever had
Trev..
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