Poland's Fuel Price Cap Costs Hit $1.25 Billion

Poland's Ministry of Finance stated that due to the impact of the Middle East situation, the country's fuel price cap policy has incurred cumulative expenditures of approximately 4.7 billion zlotys (about USD 1.25 billion) over a period of more than three months. The policy, launched in March, included reducing the value-added tax (VAT) on fuel from 23% to 8%, lowering fuel excise duties to the European Union's minimum level, and implementing a daily price cap mechanism for motor fuel. The measure was extended every two weeks after its introduction and ultimately expired at the end of June.