WARSAW, Oct. 1 (Xinhua) -- Polish President Karol Nawrocki on Thursday signed into law a temporary windfall tax on fuel companies aimed at curbing rising fuel prices.
The tax covers the period from March 1, 2026, to March 31, 2027. Fuel producers will face a 60-percent tax on revenues above a benchmark based on their normal margins.
Polish Finance Minister Andrzej Domanski said pump prices should fall by an estimated 1.2 to 1.3 zlotys (about 0.31 to 0.33 U.S. dollars) per liter this weekend.
Rising fuel prices have become a major source of inflationary pressure in Poland. Consumer inflation accelerated to 4 percent in September from 3.4 percent in August, while fuel prices surged 36.1 percent year-on-year, official data showed.
Economists at ING Bank Slaski estimate that higher fuel prices now account for about half of Poland's annual inflation.
