New drop in fuel prices

New drop in fuel prices
Credit: Belga

The maximum prices of gasoline at the pump will be lower from Wednesday, the Department of Economic Affairs announced on Tuesday.

The maximum prices per litre of 95 RON E5 and 95 RON E10 gasolene will be €1.8140 (-€0.006) and €1.7310 (-€0.013) respectively.

For 98 RON E5 gasolene, the new price is €0.004 lower, at €1.9560, while the litre of 98 RON E10 will cost €1.8930, a reduction of €0.006.

The fall in prices results in the application of the ratchet system, which involves an increase in the rate of the special excise duty on gasoline following a drop in the maximum price of the product, according to the Department.

Following the application of the system on Tuesday, the special excise duty on gasoline will increase by €10.75 per 1,000 litres from Wednesday.

The total rate of the excise duty will amount to €499.3305/1,000 litres, the ministry said.

Diesel prices will also go down from Wednesday. The price per litre for amounts lower than 2,000 litres will drop to €1.2137, a €0.0188 reduction, while the price for 2,000 litres and more will be €1.1818 (-€0.0188).

Copyright © 2024 The Brussels Times. All Rights Reserved.