AP filke photo
North Macedonia has cut the Value Added Tax (VAT) on fuel in an effort to stem the price hike at the pump due to the war in the Middle East.
The VAT on gasoline and diesel will be reduced from 18% to 10%, Prime Minister Hristijan Mickoski told reporters after a cabinet meeting Sunday.
The measure, which will come into effect at midnight on Monday, March 23, and will be in effect for two weeks, is expected to keep “the price of gasoline (…) unchanged, while that of diesel will increase by about three to three and a half dinars (€0.04 to €0.05) per liter,” he said.
Αccording to the AFP, gasoline and diesel prices rose to around €1.40 and €1.49 per liter respectively on Sunday.
Global oil markets closed higher on Friday, but remained below the $120 per barrel mark.
(AMNA)