ECONOMY

Heating oil tax hike costs the state some 300 mln euros

The leveling of the special consumption tax on heating oil with that on diesel over the last six months has resulted in the public coffers receiving 300 million euros less than they would have otherwise, according to data presented on Friday by the Panhellenic Federation of Fuel Station Owners and Oil Traders (POPEK).

The big drop in heating oil consumption has led to a 231.9-million-euro drop in revenues from the consumption tax and VAT, while the distribution of heating oil allowances amounting to 60 million euros takes the sum lost to 291.9 million euros to date.

POPEK is calling for the immediate lowering of the tax on heating oil.