Serbian government to cut fuel excise taxes by 20%

Serbia's government announced a plan to reduce excise duties on fuel by 20%, a measure President Aleksandar Vučić said he will propose by Friday. The step is intended to keep diesel prices stable amid rising global oil costs and to protect citizens' living standards.

Finance Minister Siniša Mali discussed the decision with the prime minister, emphasizing macro‑economic stability and the need to avoid new price spikes. Opposition Democratic Party of Socialists leader Nikola Rakočević called for the urgent use of the legal option to lower fuel excises, warning that higher fuel costs would raise food and service prices. Market analyst Nenad Gjuaničić noted the cut may not immediately lower pump prices but aims to prevent further increases.