The Estonian government is reducing liquid fuel reserve fee rates. This will lower fuel prices at gas stations by about 0.25%. The change will take effect next year.
The Estonian Stockpile Center proposed changing the fee rate to cover liquid fuel stockpile management costs. According to European Union rules, member states must maintain sufficient fuel reserves.
Maintaining fuel reserves is expensive. It is covered by the reserve fee. Estonia must have enough fuel to use during a crisis.
Next year, the liquid fuel reserve management cost will be EUR 5,652,000. The forecast expects EUR 5,070,000 in revenue. EUR 582,000 will be used from the reserve fee fund. This allows the reserve fee rates to be reduced by 10%.
Fuel prices will fall as the reserve fee rate decreases. This rate is added to the fuel price. The change will result in a price decrease at gas stations of about 0.25%.
However, this decrease may not last long. A fuel excise tax increase may come in spring. Finance Minister Jürgen Ligi says that according to his forecast, the excise tax will increase. The budget has taken this into account.
Ligi added that the budget is in deficit. Everyone promises to reduce taxes during elections. He does not know if it is reasonable to leave a larger deficit for the next government.