Government to cut petrol and diesel by 10 cent
The Government yesterday announced a new package of measures on fuel costs aimed at supporting the transport, farming and fisheries sectors.
It will reduce excise on diesel by a further 10 cent (VAT inclusive), bringing the total reduction on diesel to 32 cent (VAT inclusive).
The Government will reduce the excise on petrol by a further 10 cent (VAT inclusive), bringing the total reduction on petrol to 27 cent (VAT inclusive).
It will also reduce the excise on marked gas oil (green diesel) by a further 2.4 cent (VAT inclusive), bringing the total reduction on green diesel to 7.4 cent (VAT inclusive).
These overall reductions include the already announced NORA levy reduction.
The Government said it will also defer the planned increase in carbon tax, scheduled for 1st May, until the Budget in October.
This will impact green diesel and non-propellant fuels such as kerosene heating oil, natural gas and solid fuels.
The reductions in the excise on fuel for consumers will take effect from midnight, Tuesday 14th April and run until 31st July.
The already announced NORA levy reduction will also run until 31st July.