The Government of Spain has revealed this morning the main measures of the baptized as National Shock Plan. The objective is to alleviate the economic effects of the war in Ukraine. This package of measures will be approved tomorrow in the Council of Ministers and will include a discount on gasoline and diesel for all users.
The aid will thus join those already proposed by some major fuel brands such as Repsol, Cepsa and BP. The three companies announced last week that they would discount the price of fuel by 10 and 12 cents. Each of them has its own conditions for individuals and carriers.
The Government’s package of measures will have a total value of €16 billion. 6,000 euros will be for direct aid and tax reduction; while the other 10,000 will correspond to ICO credits for companies. All the measures will be included in a Decree that must be validated by Congress within a maximum period of 30 days.
Discount on gasoline and diesel for all
The measures announced by Pedro Sánchez will be in force initially Until June 30th. The aid will comprise five blocks: aid to families and workers; support for the business fabric; support to the transportation sector; cybersecurity and energy sector. The first section contemplates the discount on each liter of fuel for all users.
This bonus will be 20 cents per liter of fuel refueled. Of that amount, the Administration will discount 15 cents, while the oil companies will have to apply an additional discount of 5 cents per liter. Apparently, those who can also benefit from the discounts announced by the oil companies will see a reduction of up to 32 cents per liter.
On the other hand, in the transport sector will be injected just over 1,000 million. Along with the fuel discount for all users, carriers will have direct aid depending on the type of vehicle. A deployment of 450 million that will be: 1,250 euros per truck; 900 per bus; 500 per van and 300 per taxi, VTC or ambulance.
As an additional measure, the term for refunding the tax on hydrocarbons is shortened from three months to one month. At the same time, the commitment to pass a law that allows carriers to work with a fair price is maintained. We will see if finally all this is not a dead letter…