VILNIUS - Lithuania’s parliament approved a two-month cut in diesel excise duties on Tuesday to ease price increases linked to the conflict in the Middle East, expected to reduce standard and agricultural diesel prices by about six cents per litre.
The amendment to the Law on Excise Duties passed with 98 votes in favour, none against, and two abstentions.
The legislation adjusts the fixed components of the excise duty, reducing the final rates to 503.60 euros and 35 euros per 1,000 litres for standard and agricultural diesel, respectively.
Finance Minister Kristupas Vaitiekunas said the reduction, effective until June 15, specifically targets diesel as it has seen the sharpest price increases due to market tensions in the Middle East.
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