Czechs May Cap Fuel Margins as Premier Slams Retail Prices
A man fills up at a petrol station in Asch, Czech Republic.
Photographer: Pia Bayer/picture alliance/Getty Images
The Czech government said it’s considering regulating retail margins at gas stations after Prime Minister Andrej Babis criticized the two largest fuel distributors in the country for what he called “outrageous” prices at the pumps.
Local media have reported that cost of petrol and diesel in the Czech Republic has shown one of the biggest jumps in the European Union since the outbreak of the war in Iran. While several nations in central and eastern Europe have adopted measures to ease the impact of surging oil on households and businesses, the Czech government rejected opposition proposals to lower excise taxes because of the impact on budget deficit.