Austria Raises Petrol Price Brake and Retail Caps
Austria announced it will increase its petrol price brake and reinstate a cap on retailer margins to counter rising oil costs. The two-month measure aims to ease consumer prices amid Middle East supply disruptions.
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Austria will increase its petrol price brake to 10.2 cents per litre starting October 1, reintroducing a retail margin cap. The measure follows supply disruptions in Brent Crude Oil linked to conflict in the Middle East. High energy costs have strained consumers across Europe, prompting government intervention to lower prices at the pump.
