November 29, 2021

Taylor Daily Press

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A minister wants to make pump prices cheaper

A minister wants to make pump prices cheaper

theme picture © Mark Hermans – Media House

Finance Minister Vincent van Bettieghem (CD&V) is arguing in favor of the temporary reintroduction of the “reverse cliquet,” by which increases in gasoline and diesel prices could be curbed somewhat. “We hope, of course, that market prices will return to normal soon, but we cannot leave our families to their fate in the meantime,” he said in the House of Representatives on Thursday.

GVSource: Belgian

In the reverse cliquet system, the excise duty decreases when the maximum prices reach a certain level. If prices fall at the pump, the excise duty will rise again at a certain point. The reverse cliquet was first applied in 2005. Subsequently, the procedure was extinguished and reintroduced several times, the last time only for diesels by the Michel government from late 2015 to 2018.

He said in the House of Representatives on Thursday that Finance Minister Vincent van Bettieghem is now putting his provisional reintroduction on the government table. “I understand very well that people are looking to us for a solution. We all hope, of course, that market prices will return to normal soon, but we cannot abandon our families in the meantime.”

According to Van Peteghem, the inverted cliquet can be a “shock absorber to cushion large price increases for families.” But, he said, “our ultimate goal should, of course, be to make our mobility more sustainable.” “The reverse cliquet system is a temporary solution in a transitional period, I will continue to focus on structural reforms that will structurally enhance the purchasing power of our families.”

After gas and electricity prices, the pump’s maximum prices are now also at record prices. For gasoline 95, you now pay a maximum of 1,7540 euros per liter, and gasoline 98 costs a maximum of 1,8340 euros. The price of diesel (B7) reached a new record price of 1.7540 per liter on Wednesday.

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