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The government "will not hesitate to act" if the ISP's drop in price is not reflected in the price

The government “will not hesitate to act” if the ISP’s drop in price is not reflected in the price

Speaking to reporters on the sidelines of the release of the Iberian lynx, in Alcotem, the Minister of Environment and Climate Action, Duarte Cordero, said that if companies did not reduce their fuel in the same proportion as the reduction in the ISP, the government would take “extraordinary measures”, but declined to specify which ones. Considering that it was “premature”.

“The government will not hesitate to act and take the necessary measures to fulfill the collective expectations that we have, when we make important decisions such as reducing the ISP with the expectation of reducing the cost to families and businesses,” he affirmed.

Duarte Cordero said that “the Portuguese state, when it makes such decisions, must be valid” and ensures that the government, through the Energy Services Regulatory Entity (ERSE), “monitors prices very carefully” to understand if there are any irregularities.

“If we feel that something has not worked out due to the non-compliance of gas companies, we will not hesitate to act and, if necessary, take exceptional measures,” he said, noting that it is now necessary for ERSE to do the work and “assess the evolution of prices through from gas stations.” In order to ‘check whether there is compliance or not’.

The assessment will be carried out to ensure compliance with the measure to mitigate the increase in fuel prices, through a reduction in the ISP with an effect similar to the reduction in the value-added tax rate on fuel from 23% to 13%.

This reduction in ISP in an amount equal to the amount that would result from the lower VAT on fuel, since Monday, has translated into an additional rebate of 15.5 cents per liter for gasoline and 14.2 cents for diesel.

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The measure has already been overseen by the Food Security and Economic Security Authority (ASAE), which announced that it had detected only one case of alleged non-compliance in the implementation of ISP discounting at the gas stations it monitors, despite having received 200 complaints.

And the authority revealed that it carried out “during yesterday.” [segunda-feira]Monitoring, at the national level, at 71 fuel stations, with the aim of verifying the implementation of the new measure to reduce fuel prices, resulting from the reduction of the tax on petroleum products (ISP).

He explained that this procedure was “assumed to verify the fluctuation of liter prices compared to previous periods, in particular evaluating the impact of the Internet service provider’s reduction on the final price of the consumer.”