Czech government caps fuel margins, imposes refinery windfall tax from October

The Czech government will re-regulate fuel prices from October, capping trader margins at 2.50 CZK per liter, cutting the oil tax, and introducing an extraordinary tax on refinery margins. This marks a reversal of earlier deregulation and a direct state intervention in energy markets, likely aimed at curbing retail fuel prices ahead of elections. The impact on pump prices is uncertain, as the cap may squeeze wholesalers and refiners, potentially affecting supply.