The Polish Parliament adopts a law to cap fuel prices

The lower house of the Polish parliament adopted on Friday, with unanimous votes, a bill that allows the energy minister to set daily maximum fuel prices. All 436 present parliamentarians voted in favor of this bill, which introduces a centrally controlled price cap, allowing traders to offer lower prices. Prime Minister Donald Tusk stated that he expects a sharp decrease in prices as a result of this measure, considering the rise in fuel prices caused by the conflict in the Middle East. The law stipulates that the maximum price will be calculated based on average wholesale prices, taxes, and a fixed retail margin. Additionally, Poland will reduce the VAT on fuels from 23% to 8% and will adjust excise duties to the EU minimum level. The bill will now be sent to the Senate for approval, and the government proposes that the measures come into effect before the Easter holidays.