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Inflation in Luxembourg: Fuel prices down, discounts will disappear

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Inflation in LuxembourgFuel prices falling, rebates will disappear

LUXEMBOURG – While the prices of petrol and diesel are slowly falling, the discount at the pump is living its last days. But other aid has already taken over.

The discounts of 7.5 centimes per liter will disappear at the end of the month.

Vincent Lescaut

With prices ranging between 1.655 and 1.894 euros, fuel remains expensive. But prices have fallen slightly in recent weeks. For example, on June 14, both unleaded 95 and unleaded 98 exceeded the symbolic bar of two euros, while diesel was displayed at 1.96 euros. The fall in Brent prices (-19% in London since the peak of June 8) is mitigated by the rise in the dollar against the euro, which automatically increases the price of imported products.

Prices at the pump in Luxembourg will however start to rise again on September 1, with the end of the discount of 7.5 centimes, decided during the tripartite meeting at the end of March. This aid will not be extended, as it had been at the end of July, assured the Ministry of Finance on Wednesday, questioned by The essential.

The energy tax credit (CIE), also intended to offset the rise in energy prices, is now in place. It is visible on the July payslip on the “CIE” line. It concerns employees receiving up to 8,334 euros gross per month for full-time work, with compensation of up to 84 euros per month, decreasing according to the level of remuneration. This credit is paid “not per household, but per employee, pensioner or self-employed” and concerns both residents and cross-border workers, explains the ministry. Its implementation is planned for the time of the postponement of the last index, i.e. until March 31, 2023.