La Norvegia taglia temporaneamente le tasse su benzina e diesel nel contesto della guerra in Medio Oriente

Meanwhile Germany has decided it will ONLY be banning petrol stations from raising prices more than once a day. That’s literally their response.

Almost 1/3 are EVs, I suppose that makes it more easy 

https://elbil.no/over-en-million-elbiler-pa-norske-veier/

Ireland did the same a few days ago. The problem here is that it only resulted in fuel prices being slightly dropped in some petrol stations. And even in a lot of the ones that did drop prices at the pump they didn’t drop it by the full amount the taxes were reduced by.

I assume it’s also the same I other European countries that:

When prices of oil go up the price at the pump goes up immediately. We get told that petrol station owners need to do this as they need to be able to cover the cost of the next delivery of fuel to the station which will be more expensive and we can’t just expect them to have enough cash in the bank to cover the next delivery at a higher cost.

When prices of oil go down, the price at the pump is very slow to drop. We are told this is because the petrol station owners have already paid the higher price for Petrol and Diesel in their tanks. And the price will only reduce once they get their next delivery at the cheaper price because they can’t be expected to sell it at a loss.

One or the other is understandable but doing both and trying to explain to us this is normal is ridiculous.

It will snowball. First Spain and several countries are now following to minimize (for some time) Trump’s screw-up…

But it will not be enough to deal with the massive damage this war will cost to Europe… if the French government is right about 40% of the infrastructure damaged and that it will take years to rebuild, we will face another recession that no tax relieve on oil will solved

Couldnt they just produce more or they are selling all their product?

Cutting fuel taxes seems like a bad way to address the fuel crisis. The high prices are driven by very real shortages, so the best way to combat this is by reducing demand. If you cut taxes so that the fuel prices aren’t that much higher than before the war, there isn’t much incentive to reduce consumption.

Instead, keep the price high to push people to consider alternatives (WFH, biking, carpooling, public transport, etc…) and compensate people for the increased cost of living in some other way. For example by lowering income taxes. Such a solution will, on average, be more helpful to lower income people, whereas a fuel tax reduction favors those who drive more, which are often higher income people.

This is just wrong.

Demand destruction needs to happen worldwide.
If the rich countries are subsidizing or reducing taxes on oil products it only means that even more of the demand destruction needs to happen in poor countries. 

Rationing and maximum price (the difference covered by subsidies for the sellers) could end up being necessary.