Spain has received the European Union's green light to temporarily cut taxes on petrol and diesel below the bloc's normal minimum levels to lower fuel prices for households and businesses hit by the Middle East energy crisis, an official European Commission document reveals.
The EU normally sets minimum excise-duty rates for petrol and diesel. Countries can tax fuel above those floors, but going below the EU minimum requires specific flexibilities under the EU’s Energy Taxation law, which Spain secured from July to September because of the exceptional energy crisis triggered by the US and Israel's war on Iran and the ensuing closure of the Strait of Hormuz.
