BUSINESS BRIEFS

Petrol prices cushioned by dollar

THE EFFECTS of an increase in duties on petrol and diesel may be softened by the weak dollar, lower oil prices, and a reduction in VAT, analysts say.

Tax on petrol is due to rise by Sk3.1 (€0.08) per litre, and on diesel by Sk2.7 (€0.07).

Currently, VAT on petrol and diesel is set at 20 percent, but this is due to be reduced to 19 percent on July 1 when the new tax regulations come into force.

Analysts predict that the price rises will cause a drop in consumption.

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