WIFO Alarms: Petrol Price Has to Increase

EnergyOil & Gas ♦ Published: October 24, 2011; 15:52 ♦ (Vindobona)

The petrol price should be increased annually by six percent. Tobacco should be more expensive as well, claims WIFO’s (Austrian Institute of Economic Research) head Karl Aiginger. However, taxes on labor should fall.

WIFO Alarms: Petrol Price Has to Increase / Picture: © Petrol

Karl Aiginger predicts hard times for Austria's motorists. Although diesel and gasoline are now sold only slightly below their historic high prices, the WIFO’s head argued at “ORF press hour” on Sunday that the tax on gasoline should be raised annually. The price of gasoline should always rise to double or triple the rate of inflation. Annual increases of six percent are…