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Euronews
Euronews
Ruth Wright

Oil giants pocket extra €81m a day in EU. Here's how much a windfall tax could cut your energy bill

European Union Electricity Europe CAN Oil

EU governments are under mounting pressure to "urgently tax fossil fuel profits" to slash energy bills and speed-up investment in home-grown renewables.

A new study from NGO Greenpeace found that oil giants in the EU are raking in an extra €81.4 million in profits every single day, as the war on Iran sends prices soaring. This works out at around €2.5 billion in additional profit for March alone.

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