Gasoline is unlikely to become even more expensive in 2024

Gasoline will be significantly more expensive on July 1st than before. This is because the consumption tax cut is partially reversed. But the price hike in 2024 may not happen.

The excise duty reduction was introduced last April because of significant price increases after the outbreak of war in Ukraine. The tax cut has been extended to June 30.

Gasoline must not become more expensive in 2024

Gasoline will therefore become more expensive on July 1st. You pay 13.8 cents more per liter. If you fill up with 50 liters of petrol, you have to pay 6.90 euros more at the pump. But this increase only restored 50 percent of the old level of excise duty. The other half would follow in 2024. Added to this is the adjustment for inflation.

However, it is not certain whether this increase will be implemented. Finance Secretary Van Rij says on RTL Z that the petrol discount can remain in force if the difference to neighboring countries becomes too great. “But then I have to sit down with my minister,” says Van Rij.

No consumption tax increase, but inflation correction

If the increase is implemented, a price increase of around 25 cents per liter of petrol can be expected. That’s 11.25 euros more for a 50-liter tank. This is not only due to the increase in consumption tax, the inflation adjustment also contributes to it.

So it remains to be seen how the price of petrol will develop in 2024. In any case, starting July 1st, fuel will be more expensive.