North Macedonia Lowers Fuel Excise Tax, Here’s How Much Citizens Will Save

The executive of North Macedonia has approved an intervention package aimed at revising the taxation formula and reducing excise taxes on gasoline and diesel. The main goal of this initiative is to cushion the wave of fuel price hikes in the domestic market, reports INA.

According to the government’s announcement, the measure serves as a shield for citizens’ purchasing power and for preserving the health of the national economy, in a global context where crude oil prices are experiencing a strong upward trend. Authorities stressed that they are monitoring daily exchange fluctuations in real time, ready to react with immediate decisions.

With the entry into force of this decision, the financial burden on consumers will be lighter. Official calculations show that without this intervention, gasoline would have registered a rise of nearly 4 denars per liter, but now the increase is expected to be limited to around 3 denars. The mitigating effect is even more noticeable in the case of diesel: from an initially calculated increase of 8 denars per liter, the price hike is expected to be around 6 denars.

The proposal drafted by the government has already been forwarded to the Regulatory Commission for Energy. This institution will be tasked with publishing the new retail tariffs, where the impact of this restrictive measure will materialize. (INA)