Spain to hike fuel duties by 17%

Policy shift denied, but oil industry sees move as response to "irresistible" EU pressure

Spain's revenue minister Cristobal Montoro yesterday won the backing of a majority of regional governments to raise fuel duties by up to 17% over three years from 1 January. The estimated annual revenue of euros 817m (SPta136bn) is to be ring-fenced for spending on health and the environment.

The rise will initially put four pesetas on the price of a litre of petrol, diesel, kerosene and bunker oil, and from September up to four pesetas more at the discretion of each autonomous region. Fuel duties currently stand at euros 0.37 per litre for petrol and euros 0.27 for diesel.

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