Government cuts taxes on fuel: diesel to rise 16 cents on Monday; petrol 11 cents

No news is good news, and in this is a case in point: the government’s efforts to throttle back on taxes levied on fuel will STILL see massive increases at the pumps from Monday. Diesel, will be increasing by 16 cents, in spite of a 2.4% cut on ISP (fuel tax); petrol by 11 cents (in spite of a 1.7% cut in ISP). PM Costa stresses efforts are on getting Brussels to agree to a temporary reduction in IVA to start making some kind of dent in these unsustainable weekly increases.