German finance chief wants measures to curb rising fuel prices | Economic news

BERLIN (AP) — Germany’s finance minister on Monday offered a “crisis cut” to soften the impact of recent fuel price hikes due to the war in Ukraine.

The fuel subsidy proposed by Finance Minister Christian Lindner could cut gasoline prices by more than 0.2 euros per liter (about $0.08 per gallon), German media reported.

“The state must not leave citizens and businesses alone in the face of rising prices,” Lindner said.

He said the measure had not yet been approved by the three-party governing coalition, but he hoped the Cabinet could approve it on Wednesday as part of a broader package. Opposition parties called for a temporary reduction in fuel taxes, which Lindner rejected.

Members of the Greens party in the German government, meanwhile, have proposed introducing a speed limit on the country’s autobahns to limit fuel consumption. A spokesman for the Department of the Environment, Christopher Stolzenberg, said a speed limit was “good for climate protection, resource protection and road safety”.

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“Whether that’s something we’ll get to next is…under discussion,” he said.

Lindner declined to comment on the speed limit proposals, which his party, the Free Democrats, had previously opposed.

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