Slovakia's government, led by Prime Minister Robert Fico, has announced plans to limit the profit that fuel distributors can make on gasoline and diesel sales. Starting October 1st, the maximum allowable profit will be capped at 10 cents per liter. This decision comes as part of a broader European trend, with neighboring countries like Croatia and Slovenia already implementing similar restrictions on fuel margins. These policies aim to reduce the overall cost of fuel for consumers, who have been hit hard by rising prices due to global energy market fluctuations and geopolitical tensions.
In Croatia, the government has set a maximum price of 1.74 euros per liter for gasoline and 1.91 euros for diesel, while Slovenia has set limits on the profit margins, allowing 11.5 cents per liter for gasoline and 9.45 cents for diesel at non-highway stations. Despite these measures, fuel prices in Croatia have still increased slightly in recent weeks, suggesting that such policies may not fully counteract rising global oil prices. The Croatian government estimates that without these interventions, prices could have been even higher.
In response to the ongoing fuel price crisis, Slovakia’s Prime Minister also announced plans to cut the cost of second-class train travel by half, aiming to provide an alternative to driving and reduce reliance on expensive fuel. Fico criticized the European Union for its perceived inability to address the fuel price surge, accusing the bloc of being "at the mercy of the oil crisis" and "incapable of influencing anything in the world." He pointed out that the EU has been able to allocate hundreds of billions of euros to support Ukraine but has struggled to find solutions for the energy crisis.
Fico, who has maintained political ties with Russian President Vladimir Putin despite Russia's invasion of Ukraine, has called for an extraordinary European summit to address the fuel price issue. His comments reflect growing frustration among some European leaders with the EU's handling of the crisis, as rising fuel costs continue to strain households and businesses across the continent.
European Nations Implement Fuel Margin Caps Amid Rising Prices and Political Tensions
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