Cost of living in Austria rises due to fuel prices

Cost of living in Austria rises due to fuel prices
Cost of living in Austria rises due to fuel prices

The cost of living in Austria has been steadily increasing, with one of the main contributors being rising fuel prices. In August, headline inflation stood at 7.5 percent, driven largely by rising fuel prices. In particular, diesel has seen a significant increase, with prices hovering around 1.77 euros per liter, marking a 20 percent increase since May. Gasoline prices are slightly lower, at 1.70 euros per liter.

The Austrian Automobile Association has called for government intervention to mitigate the impact of these price increases, especially given that the state benefits from VAT on fuel sales. Statistik Austria has identified rising fuel prices as the main factor behind persistently high inflation rates, which have often exceeded 10 percent in 2022. In comparison, increases in food and energy prices have been They have maintained around 10 percent.

Despite the increases, filling up the tank in Austria remains relatively affordable compared to other European countries. The average price of gasoline in Austria is 1.70 euros per liter, which is lower than the prices in Germany (1.89 euros), Italy (1.97 euros) and the Netherlands (2.11 euros) . Poland offers even cheaper fuel at 1.39 euros per liter.

To help consumers save on fuel costs, the ÖAMTC (Austrian Automobile, Motorcycle and Touring Club) offers an app that shows the cheapest fuel prices in a selected area. Additionally, regional considerations must be taken into account, as western Austria tends to have higher prices for various goods and services, including fuel.

In conclusion, rising fuel prices in Austria are affecting people’s finances. While efforts can be made to find cheaper fuel options through the application of the ÖAMTC or taking into account regional differences, it is crucial that the government addresses this issue to relieve pressure on consumers.

– Austrian Automobile Association
– Statistik Austria
– German Automobile Association

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