The Government today nearly halved the value added tax paid on fuels, in an attempt to stem the spiking prices at the pump, as a new, third round of hikes is expected tomorrow.
The VAT tax is going down from 18 to 10 percent, announced Prime Minister Hristijan Mickoski today. He expects that this move will keep the prices unchanged after the next increase for the unleaded gas, and will reduce the diesel price by only about 5 percent, even as the global oil prices are spiking due to the Iran war.
There are risks and we will resolve them along the way. Many of the issues are not up to us. But based on what we can anticipate, we will act timely, said Mickoski.
The Prime Minister announced that the state market inspection service will be working non-stop to inspect whether retail chains are engaged in unfair practices and are increasing the prices above the market conditions.
We see price increases in oil and eggs, that are visible and significant. Other products are basically in their average prices. The justification for the increases are the higher prices at the global commodity markets, which may sound strange when we are talking about the price of eggs, but it does reflect on the price of feed. We are following the developments, we are making calculations and we will not allow any price movements that will harm the living standard of our citizens, said Prime Minister Mickoski.
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