• Policy

        • Norway

        • 2023

        Norwegian price cap on Russian petroleum products

        Norway introduced a price cap on Russian petroleum products to reduce Russia's revenues from the sale of petroleum products to third countries and to match the price caps adopted by the EU and the G7 countries. The price cap is USD 45 per barrel for refined petroleum products trading at a discount to crude oil, and USD 100 per barrel for refined petroleum products trading above the price of crude oil. 

        • Policy

        • Switzerland

        • 2026

        Federal Act on the Supervision and Transparency of Wholesale Energy Markets

        The Federal Act on the Supervision and Transparency of Wholesale Energy Markets requires market participants to report information on their transactions and orders to the Federal Electricity Commission (ElCom). It also prohibits insider trading and market manipulation. The Act aims to increase transparency and strengthen the monitoring of these markets, as well as to reinforce confidence in their integrity.

        • Policy

        • Kenya

        • 2020

        The Petroleum (Minimum Operational Stock) Regulations

        These regulations aims at providing a strategic reserve of petroleum products in the country, along with ensuring the continuity of supply of petroleum products in case of disruption of supply of the products, and stabilising domestic prices of petroleum products. The minimum operational stock days’ consumption has been reduced in comparison with the 2008 regulations. The strategic stock is maintained at 15 days of consumption. The government appoints, through a competitive process, several oil importers to stockpile oil at the Petroleum Strategic Stocks Bulk Storage Facility.

        • Policy

        • Portugal

        • 2022

        Continuation of the reduction of the Tax on Petroleum and Energy Products (ISP)

        As part of its April 2022 "New measures to contain the rise in energy and agri-food prices" package, the Portuguese government extended its temporary reduction of the Tax on Petroleum Products (ISP) for gasoline and diesel, until the end of 2022 before being gradually phased out in 2023.The tax reduction corresponds to a 10% VAT reduction (from 23% to 13%), and is applicable to gasoline and diesel.

        • Policy

        • Ireland

        • 2022

        Temporary reduction in the excise duties on petrol, diesel and marked gas oil

        Excise duty reduced 20 cent/litre of petrol and 15 cent/litre of diesel, with a 3.4 cent reduction on marked gas oil (MGO), and remain in place with effect from 10 March 2022.  The current reductions are VAT inclusive amounts of 4 cent,  3 cent and 1.7 cent per litre for petrol, diesel and MGO respectively and are due to be restored on 1 August 2024.  

        • Policy

        • Oman

        • 2022

        2022-2023 Petrol subsidies

        In an effort to shield domestic consumers from the effects of the global energy crisis, the government of Oman has implemented petrol subsidies to keep prices capped at October 2021 levels.

        • Policy

        • Switzerland

        • 1996

        Mineral oil tax and -supplement for motor fuels

        Tax on fossil motor fuels. Transformed in 1996 from a fiscal customs tariff to an excise tax.

        • Policy

        • Belgium

        • 2022

        Diesel & petrol temporary excise tax rebate of EUR 0.175/l when price above EUR 1.7/l

        A temporary EUR 0.175/litre reduction of excise duty on diesel and petrol from 16 March to 30 September 2022, which will not apply as soon as the price at the pump drops to and/or below EUR 1.70/litre.To be revisited Mid-June 22. Cost appraisal based on official daily appraisal ( EUR 2 M/d for diesel, EUR 1.26 M/d for petrol) until mid-June.

        • Policy

        • Japan

        • 2021

        2021/2022 National fuel subsidy rise

        In an effort to cushion domestic consumers from the effects of the global energy crisis, the Japanese government raised national fuel subsidies for gasoline, light oil, kerosene, heavy oil, and aviation fuel, in November 2021 through a scheme targeting oil refining companies.

        • Policy

        • Ireland

        • 2012

        SI 541 of 2012 European Union (Oil Reserves) Regs 2012

        The European Oil Reserves Regulations 2012  provide for the transposition into Irish Law of Council Directive 2009/119/EC of 14 September 2009 imposing an obligation on Member States to maintain minimum stocks of crude oil and/or petroleum products.

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