ECONOMY

Drivers hit with hefty rise in fuel tax

Fuel prices such as those at present will be hard to find from now on as the government yesterday tabled in Parliament a draft law for a rise in the special consumption tax on fuel. The bill provides for a rise in the final price of gasoline by 0.143 euros per liter and in that of diesel by 0.06 euros per liter. The Finance Ministry announced yesterday that the fuel tax hike is expected to increase the budget revenues by 934 million euros in 2010 (714 million euros from the rise in the price of gasoline and 220 million euros from the rise in diesel), ‘so that this country approaches the average taxation in the European Union.’ There are also special provisions in order to avoid tax evasion or the distortion of the market.