Fuel Taxes Ranked in The EU
March 4, 2014 Taxation in EU
LONDON – A new study into fuel duties in the EU has shown a disparity in taxation between different countries, with the UK leading the pack as one of the hardest taxed in the region.
On March 3rd the UK based non-government organization RAC Foundation released a new report detailing the taxes and duties on the retail sale of petrol and diesel fuel in the countries of the EU.
According to the information in the newly published report, the highest tax burdens on diesel fuel in the EU are faced by motorists in Sweden, the UK, and the Netherlands, where taxes and duties make up 62 percent, 61 percent, and 61 percent of the retail price of fuel, respectively.
Correspondingly, the highest taxes on petrol are indicated to be the in the UK, Sweden and Italy, with respective rates of 59 percent, 56 percent, and 55 percent of the price at the pump.
At the same time, the lowest tax burdens on the retail sale of fuel are found in Luxembourg and Bulgaria, where taxes accounted for only 48 percent and 45 percent of petrol, while diesel fuel in these countries still face the lowest rates in Europe at 41 percent and 42 percent.
The authors of the report particularly noted that the price of fuels in the UK remains to be one of the highest in the EU despite the fact that pre-sale cost of fuel in the UK is one of the lowest in the region, and despite a government freeze of all fuel duties almost three years ago.
Photo by: Elliott Brown