Austria is taking steps to alleviate the impact of rising fuel prices, exacerbated by the Gulf War, by temporarily lowering the special consumption tax on fuel. Chancellor Christian Stöcker, representing the center-right People's Party (ÖVP), stated that 'the state should not become a profiteer of the crisis'. The initial measure includes a reduction of the tax on diesel and gasoline by 5 cents per liter, which is aimed at providing some relief to citizens and businesses struggling with high prices.

In addition to the tax reduction, the Austrian government will implement a temporary freeze on profit margins throughout the supply chain, which is also expected to contribute to lower fuel prices. Stöcker mentioned that these measures could potentially lower the price of fuel in Austria by up to 10 cents per liter. The Chancellor emphasized the need to protect the purchasing power of households and the competitiveness of businesses amidst the price surge caused by the ongoing geopolitical tensions, particularly the war in Iran.

Currently, the fuel tax stands at 39.7 cents per liter for diesel and 48.2 cents per liter for gasoline. These changes reflect Austria's commitment to addressing the economic challenges presented by the crisis and ensuring that the burden does not disproportionately fall on the average consumer or small business owners. This initiative could serve as a precedent for other EU nations facing similar issues with rising costs.