BUCHAREST, April 3 (Xinhua) -- The Romanian government has approved an emergency ordinance to reduce excise duties on diesel and introduced a solidarity tax on exceptional profits in the oil sector, government spokesperson Ioana Dogioiu announced Friday.
Under the new measure, the excise duty on standard diesel sold domestically will be reduced by 30 bani (7 U.S. cents) per liter during the period from April 1 to June 30.
According to Dogioiu, diesel was prioritized due to its dominant role in the economy, as it accounts for about 75 percent of total fuel consumption in Romania.
Meanwhile, Dogioiu said the government also introduced a "solidarity contribution" targeting companies involved in the extraction or extraction and sale of crude oil in Romania. The tax is linked to international Brent crude price thresholds and will amount to 60 percent of exceptional profits generated during the period from April 1 to June 30.
"The thresholds are designed to ensure that this exceptional taxation does not affect investment levels, but rather targets only extraordinary profits," Dogioiu said.
The Romanian authorities have emphasized that no additional measures are currently planned to address rising fuel prices, including any reduction in gasoline excise duties, and said that the impact of the emergency measures will be closely monitored as market conditions remain volatile. ■