European governments consider new taxes on oil company profits after fuel increases. Germany urges the European Commission to propose measures for taxing excessive profits.
Commissioner Valdis Dombrovskis says no joint tax plan is currently being considered.
He notes member states can independently introduce national taxes on oil firms. Europewide, gasoline prices rose twenty-four percent compared to last year’s average.
Diesel prices have surged thirty-eight percent, putting pressure on consumers and economies. Soaring prices renew debate about taxing oil companies’ windfall profits across the continent.