The cost of living in Austria has been steadily increasing, with one of the main contributors being the rising prices of fuel. In August, overall inflation stood at 7.5 percent, largely driven by the soaring fuel prices.
Diesel, in particular, has seen a significant increase, with prices at around €1.77 per litre, marking a 20 percent rise since May. Petrol prices are slightly lower at €1.70 per litre. The Austrian Auto Association has called for government intervention to mitigate the impact of these price hikes, especially considering that the state benefits from VAT on fuel sales.
Statistics Austria has identified the rising fuel prices as the major factor behind the persistently high inflation rates, which have often exceeded 10 percent in 2022. Comparatively, the increases in grocery and energy prices have remained at around 10 percent.
Despite the increases, filling up in Austria is still relatively affordable compared to other European countries. The average petrol price in Austria is €1.70 per litre, which is lower than the prices in Germany (€1.89), Italy (€1.97), and the Netherlands (€2.11). Poland offers even cheaper fuel at €1.39 per litre.
To help consumers save on fuel costs, the ÖAMTC (Austrian Automobile, Motorcycle and Touring Club) provides an app that displays the cheapest fuel prices in a selected area. Additionally, regional considerations should be taken into account, as the west of Austria tends to have higher prices for various goods and services, including fuel.
In conclusion, rising fuel prices in Austria are placing a burden on individuals’ finances. While efforts can be made to find cheaper fuel options through the ÖAMTC app or by considering regional differences, it is crucial for the government to address this issue to alleviate the strain on consumers.
– Austrian Auto Association
– Statistics Austria
– German Auto Association