Breaking Down the Tax Take On Fuel

Turning now to fuel prices that everyone else is paying, the Government says that last Friday, 6 days ago, they lowered their tax take on the price of diesel to 35%. That allowed for the price to be capped at 13 dollars and 41 cents.

GOB says that had this reduction in excise duty not been implemented, the pump price for diesel would have reached 14 dollars and 70 cents.

Our calculations indicate that on March 5, the government's tax take was at 36%. Back when the price of diesel was 12 dollars and 56 cents per gallon, the government taxes were 4 dollars and 53.7 cents out of that total.