Serbia Extends Lower Fuel Excise Tax Amid Rising Oil Prices

The Serbian government has extended the lower fuel excise tax by another two weeks until September 6. The decision was made on August 29, when amendments were adopted to the Decision on the Temporary Reduction of Excise Tax Amounts on Petroleum Products.

The current rates remain unchanged: unleaded gasoline costs 57.60 dinars per liter, leaded gasoline 61.24 dinars per liter, and diesel (gas oil) 59.23 dinars per liter. These are 20 percent below the full legal excise tax amounts of 72 dinars per liter for unleaded gasoline and 74.04 dinars per liter for diesel.

The reason cited for this cut is the rise in crude oil prices on the world market, which has led to an increase in producer prices for petroleum products. This is the third extension of the 20 percent reduction, which was initially set to expire on August 23 but was extended through September 6.