European nations implement various measures to mitigate rising fuel prices following the Iran war, including tax cuts and subsidies.
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Due to the war in Iran, fuel prices are rising across Europe; for instance, the Lithuanian Finance Minister mentioned falling oil and diesel prices due to a lack of production capacity in Europe, with some excise taxes being reduced to cushion the increase. Romania is managing better than many EU countries, keeping fuel prices lower than the EU average despite daily price hikes, implementing temporary measures like reducing diesel excise tax by 30 bani or 6 euro cents per liter and introducing a solidarity levy on green oil producers when Brent crude exceeds $70 per barrel. Spain reacted quickly to the crisis with an anti-crisis plan that included VAT reductions on fuel, electricity, and gas, alongside direct support for transport operators and farmers, though diesel prices remain high. Italy is highly dependent on Qatar for natural gas, as QatarEnergy halted supplies citing force majeure. In response to rising costs, the Italian government temporarily reduced fuel excise taxes. Austria has seen significant increases in gasoline and diesel prices since the war began, leading to measures like limiting price changes at gas stations three times a week and planning a “price cap” on fuels. Ireland also implemented temporary reductions in fuel excise duties for drivers and extended support schemes until the end of May.
