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COST OF LIVING

Fuel prices spike in Austria amid stubbornly high inflation

The prices of petrol and diesel have jumped around 20 percent in Austria since May, as Statistics Austria says inflation hit 7.4 percent last month.

Published: 19 September 2023 15:33 CEST
Fuel prices spike in Austria amid stubbornly high inflation
Fuel price increases are driving inflation in Austria. (Photo by Jeff PACHOUD / AFP)

With the cost of living rising in Austria filling up your vehicle has become one of the main burdens on your wallet.

Although overall inflation – which measures everything from food and energy prices to rents – rose 7.5 percent in August, fuel prices are bringing that average up.

As of Tuesday Diesel was selling for about €1.77 a litre – a full 20 percent higher than it was in May. Petrol was only a little bit less at €1.70.

The Austrian Auto Association said the state needed to intervene to help cushion the price hike, not least because it is the biggest beneficiary – getting about 30 cents of every litre sold via VAT.

Statistics Austria said rising fuel prices were the main culprit in why inflation has remained stubbornly high – although 2022 regularly saw inflation pass the ten percent mark.

The increase in the price of fuel of around 20 percent is much higher than the increases seen for groceries and energy, which both stand at about ten percent.

READ ALSO: How fuel prices in Austria are expected to rise next year

Even with the increases though, filling up in Austria is still comparatively affordable next to the prices seen in some other European countries. Although petrol averaged €1.70 per litre in Austria – that’s a lot less than the €1.89 seen in Germany, Italy’s €1.97 or the €2.11 seen in the Netherlands.

Poland was still considerably cheaper, at €1.39 – according to calculations by the German Auto Association.

There are also still a few tricks to try when looking to save on fuel in Austria.

The ÖAMTC (Austrian Automobile, Motorcycle and Touring Club) maintains an app that displays the cheapest fuel prices in a selected area. There is even a map function to then direct you to the right place.

Sometimes the difference in prices can be pretty small, but it’s still a worthwhile tool for saving some money over time.

Regional considerations can come into play too. The west of Austria has a reputation for being more expensive than the east, with everything from fuel, to food and accommodation often costing more.

READ ALSO: Where to find the cheapest fuel for your car in Austria?

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COST OF LIVING

Austria to hike amount to be paid out for 2024 ‘Klimabonus’ payment

Austrian authorities will soon start sending out the so-called Klimabonus payment, and it will be a higher amount than last year.

Published: 15 May 2024 14:57 CEST
Austria to hike amount to be paid out for 2024 'Klimabonus' payment

The Klimabonus or climate bonus is a part of Austria’s eco-social tax reform, a set of measures to promote climate protection.

One such action includes a tax on CO2 emissions, which increases fuel prices and affects Austrian drivers. The annual Klimabonus payment aims to offset this expense. 

The payment of this year’s climate bonus will see an increase due to the higher CO2 pricing, and so will range between €145 and €290. Last year, the bonuses varied from €110 to €220. The new figures were announced by the Austrian government after the meeting of the Council of Ministers on Wednesday, May 15th, reported ORF.

Payments will be made after the summer

You will receive the bonus if you have had your main residence in Austria registered for more than six months.

As during the precious years, the payment will be made after the summer – by bank transfers and postal deliveries via RSa letter. If you received the payment to your bank account last years, you should update your account details to finanzonline.at to ensure that everything is in order.

READ ALSO: Vienna reveals new plan for how to move away from gas heating

How much will you get?

The idea is that people who live in cities where they can rely on eco-friendly public transportation will receive a lower portion of the bonus. Those who instead have limited access to public transportation and need to pay higher costs, such as for using their car for travelling, will receive a larger portion of the bonus.

The government has created four different categories which decide how much residents in different locations will receive.

  • Category 1: Urban centres with very good infrastructure and excellent public transport facilities, such as Vienna. In Category 1 regions, there is no additional regional compensation, so the payment remains at the base amount (€145 per person).
  • Category 2: Urban centres with good infrastructure and solid public transport facilities, including cities like Graz, Salzburg, Klagenfurt, or St. Pölten. In Category 2 regions, the regional compensation is 33 percent of the base amount (€195 per person).
  • Category 3: Urban centres and surrounding areas with basic public transport facilities or good basic public transport options. Examples of category three regions are Groß-Enzersdorf, Wolfsberg, or Mittersill. In Category 3 regions, the regional compensation is 66 percent of the base amount (€245 per person).
  • Category 4: Rural communities and communities with only basic public transport facilities. Examples of category four regions include Mariazell, Werfen, and Sölden. In Category 4 regions, the regional compensation is 100 percent of the base amount (€290 per person).

READ MORE: Austria climate activist aims to take fight to Brussels

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