Energy, Latvia, Legislation, Taxation, Transport

International Internet Magazine. Baltic States news & analytics Thursday, 27.11.2014, 15:01

Fuel prices in Latvia reduced one santim following VAT rate cut

Alla Petrova, BC, Riga, 02.07.2012.Print version
Fuel prices were reduced one santim at filling stations yesterday, July 1, following a reduction in the value-added tax rate from 22% to 21%.

Statoil reduced the price for 95 octane gasoline from 93.9 santims to 92.9 santims, whereas 98 octane gas price was cut from 96.9 santims to 95.9 santims per liter. Diesel fuel price was reduced from 88.9 santims to 87.9 santims yesterday, writes LETA.

 

Neste Latvija also reduced fuel prices one santim per liter. 95 octane gas now costs 91.7 santims at Neste Latvija filling stations, 98 octane gas – 94.7 santims, and diesel fuel – 86.7 santims per liter.

 

Both fuel retailers confirmed that the reductions were due to a 1% cut in the VAT rate effective as of July 1.






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