Austria Extends Fuel Price Regulation Until 2028

Price increases for fuels will also be possible only once daily, namely at 12 noon, over the next three years. Reductions, on the other hand, remain possible at any time. The corresponding fuel price regulation, which would have expired at the end of the year, has now been extended by Minister of Economic Affairs Wolfgang Hattmannsdorfer (ÖVP) until the end of 2028. With this measure, stable rules are secured, competition is strengthened, and prices are kept noticeably lower.

Fuel in Austria is cheaper

According to Hattmannsdorfer, Austrian fuel prices are noticeably below the average of the Eurozone, which he attributes, among other things, to the regulation. This is particularly evident in the prices for gasoline: per liter of Euro-Super, one pays on average 17.7 cents less in Austria. Compared to Germany, the price for Euro-Super is even 21.4 cents lower. The liter of diesel is marginally cheaper by 5.7 cents than the Eurozone average. Finance Minister Markus Marterbauer (SPÖ), however, recently criticized to the APA that falling prices on international markets are not being passed on in Austria, which is why he threatened countermeasures.

Price changes must be reported

The price regulation has been in place since mid-2009. At that time, it was established that price increases were only permissible at the start of operations. With the evaluation and amendment of the regulation in 2011, the time for the possibility of daily price increases was then shifted to 12 noon.

The Austrian model further obliges gas station operators to always report price changes to the price transparency database of E-Control. Based on this, E-Control operates a public price comparison calculator (www.spritpreisrechner.at). Through this, consumers can compare prices in their area and choose the cheapest offer.

(APA/Red)

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