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Croatia: new government intervenes to cut fuel prices

Excise duties reduced, profit margins cut. Inflation at 9.4%

07 June, 00:05
(ANSA) - ZAGREB, JUN 6 - To counter the sharp rise in the prices of gasoline and other petroleum products at gas stations, the Croatian government today launched urgent measures, effective as early as tomorrow. The package includes the decrease in excise duties on all petroleum products for the second time in two months, bringing the total reduction to 11 kuna cents per liter. In addition, the profit margins of commercial entities, gas stations, and transportation firms will be reduced.

In this way, predicts the government in Zagreb, gasoline prices tomorrow will not rise by 6%, as they would have without the intervention, but will remain stable. Moreover, the government will continue monitoring prices at gas stations, and a third intervention is ready if it proves necessary. In April in Croatia, inflation reached 9.4% year-on-year, the highest ever recorded in 30 years after the country's independence. The most robust increases were in energy, transportation, and food, between 10 percent and 16 percent. (ANSA).

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