Lower Saxony's Prime Minister Olaf Lies is calling for a national excess profits tax on mineral oil companies

In the debate about cheaper fuel prices, Lower Saxony's Prime Minister Olaf Lies (SPD) advocates a national excess profits tax if a regulation at EU level does not come about. “The instrument must be possible,” said Lies to the news portal Table.Briefings. “What cannot now be done at the EU level, but rather at the national level, must be implemented.”

The EU Commission had initially rejected calls from Federal Finance Minister Lars Klingbeil (SPD) for a European excess profits tax for mineral oil companies. At the same time, EU Economic Commissioner Valdis Dombrovskis emphasized the possibility of member states introducing such taxation themselves.

It's about justice, emphasized the Prime Minister of Lower Saxony. “It cannot be the case that a few benefit and everyone pays.”

Doubts about the 12 o'clock rule

Lies was also critical of the so-called 12 o'clock rule at gas stations. Although it provided a “bit more clarity”, it still did not fulfill its purpose. The rule is intended to limit price increases to a fixed point in the day - reductions are still possible. According to Lie's assessment, this sometimes results in initially high prices, which are then reduced again over the course of the day.

However, he left it open whether the rule should therefore be abolished. “I don’t know if it has to go, but it definitely didn’t serve the purpose,” he said.