Spain and Austria announce intervention in energy prices

Recently, affected by the situation in the Middle East, energy prices in many European countries have remained persistently high. Spain and Austria have announced interventions in energy prices. Meanwhile, several oil companies have already implemented price cap measures in Italy. Recently, Spanish Minister of Economy, Trade and Business Cuervo announced that the Spanish government has approved intervention in energy prices, and in October, gasoline and diesel prices will be reduced by 0.2 euros per liter. On the same day, Spanish Minister for Ecological Transition Aagesen stated that Spain will set a cap of a maximum increase of 15% on natural gas prices, while also setting a ceiling on liquefied petroleum gas prices. Austria's National Council passed a new round of fuel price intervention measures on the 28th to ease the pressure brought by recent fuel price increases. According to the relevant measures, in October and November of this year, Austria will reduce the mineral oil tax on gasoline and diesel, while also limiting the profit margin on fuel sales. The Austrian government estimates that with the two measures combined, consumers can pay more than 0.12 euros less per liter when purchasing fuel.