New eco-tax to take effect in January 2023

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At the beginning of the year, the “CO2 tax” will increase, which will also affect the gas pumps. This is how expensive full refueling with gasoline and diesel will be.

There is no escape anymore. If it was only with the introduction of the “CO2 tax” in October that fuel prices have already climbed by 9.9 cents (diesel) and 8.6 cents (gasoline) per liter, prices at the pumps are already rising again as of January 1.

A curious phenomenon occurs: record inflation causes fuel prices to rise less than feared. “Due to a price stabilization mechanism, the CO2 price increase will be halved as of 1.1.2023. The CO2 price will thus […] only increase by 2.5 euros per CO2 ton and thus amount to 32.5 euros,” the climate protection ministry informs Climate and Environment Minister Leonere Gewessler, as published by “Heute” newspaper.

So if the prices for fossil energy for private households rise significantly, the additional CO2 price increases only half as much as planned. A doubling of growth is planned if the prices fall significantly.

As a result, gasoline prices will not rise by around 1.5 cents per liter in 2023, but “only” by about 0.75 cents per liter. Specifically, 0.8 cents per liter of diesel and 0.7 cents per liter of gasoline (all prices incl. VAT). So per 50-liter tank, the tax now totals 4.90 euros (diesel) and 4.45 euros (gasoline).

In the economy, however, there is more and more resistance to the pricing of climate-damaging CO2 emissions, which increases annually at the beginning of the year. “The increases are to remain suspended until the prices have fallen back to pre-crisis levels,” says a corresponding dispatch from the Austrian Federal Economic Chamber.

But that’s not all: When the German electricity and gas price brake comes into force in January, there should also be “unbureaucratic and rapid relief to the same extent for domestic companies.” Germany has taken a step towards easing the burden by suspending the increase in the CO2 price for 2023, and Austria must follow suit, said Harald Mahrer, President of the Austrian Federal Economic Chamber. Otherwise, the economic situation in our neighboring country will improve – at our expense.