Czech Republic to Release Oil Reserves and Consider Lower Fuel Taxes
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The Czech Republic will release oil from its strategic reserves as part of measures to address fuel prices, according to Prime Minister Andrej Babiš. The oil reserve release will be in effect from April 1 through the end of May. In addition to capping profit margins on fuel sales, the Czech government is also considering reducing excise taxes on fuel as another potential measure to provide relief to consumers facing higher energy costs.