European Governments Cut Fuel Taxes to Curb Rising Prices

European governments are cutting fuel and energy taxes to curb rising prices, without waiting for a joint decision from the European Commission. Countries such as Austria, Italy, Portugal, and Spain have already taken measures, including tax cuts on gasoline, diesel, and electricity, as well as capping profit margins. Greece is considering other forms of support, such as diesel subsidies and interventions in electricity bills. Governments are opting for immediate tax interventions as the price of Brent remains high, above $110 a barrel.