Fuels: rising prices have reduced state tax revenue by 357 million euros, according to Bercy

State fuel tax revenues have fallen by 357 million euros since the start of the year, according to Public Accounts Minister David Amiel, a slightly lower shortfall than a few weeks ago.

“When we compare what happened between the start of the year and today, tax revenues linked to fuel (...) have fallen for the State by 357 million euros,” he said on France 2.

“So we have a loss of 357 million euros both in terms of excise duties and VAT, that is to say the two taxes which weigh on fuel,” explained David Amiel.

Taxes represent around half the price of gasoline and diesel at the pump, a proportion which varies depending on the price excluding taxes. Only a part of these tax revenues goes to the State, the rest going in particular to local authorities (regions and departments). This loss of 357 million is less than the previous figures communicated by the minister.

As of September 30, “fuel revenues” showed “a loss of 383 million euros compared to the same period last year” (with an increase of 798 million in VAT, but a decrease of 1.181 billion in excise duties). On September 22, the Minister of Public Accounts indicated that as of September 20, tax revenues on fuel had fallen by 407 million euros compared to last year (with an increase of 710 million euros in VAT, but a drop of 1.117 billion euros in excise duties).

When prices increase, so do VAT revenues, which may have fueled the idea of ​​a “pot” supplemented by a “tax surplus”. Since the start of the conflict in the Middle East at the end of February, the government has insisted that there is no “kitty” for the State linked to the increase in fuel prices, due to a drop in the volumes of fuel purchased by consumers, leading to lower excise revenue.

“Fortunately we did not listen to those who called on us to redistribute an imaginary jackpot,” quipped David Amiel on France 2.

This Tuesday, a liter of SP95-E10 gasoline was sold for an average of 2.16 euros, and that of diesel, 2.36 euros, prices close to their records. The government announced the destocking of millions of barrels of diesel from November 1, in an attempt to lower the prices of this fuel at the pump.