Santa Cruz de Tenerife, 28 March (Europa Press) –
The Ministry of Finance and Relations with the European Union of the Canary Islands Government confirmed on Friday that the fuel subsidy for the non-capital islands will remain unchanged during the second quarter of the year, specifically from April to June.
The fuel subsidy amounts are set at 5 cents per litre for Fuerteventura, 20 cents per litre for La Gomera, and 30 cents per litre for El Hierro, as stated by the regional department in a press release.
La Palma retains its subsidy of 20 cents per litre, which was granted due to its unique economic recovery circumstances. In May, the subsidy amount will be reviewed based on the island’s recovery data and regulations.
The Minister of Finance and Relations with the European Union, Matilde Asan, has finalised the order that identifies the non-capital islands eligible for the temporary and extraordinary fuel price subsidy and specifies the amounts applicable for the second quarter of the year, as indicated in a statement.
The Executive emphasises that the variations in the amounts and the islands benefiting from them are assessed quarterly, based on the average prices of each island in comparison to those of Gran Canaria and Tenerife over the same period, ensuring that the subsidy reflects the actual costs faced by residents of the non-capital islands.
The average prices of G95 petrol and GOA diesel in Gran Canaria and Tenerife during January, February, and the first half of March stood at 1.21 euros.
Therefore, this figure serves as the reference for the average prices of the same fuels during the same period for the non-capital islands, excluding La Palma, which saw an average of 1.27 euros for Fuerteventura, 1.45 euros for La Gomera, and 1.56 euros for El Hierro.
In Lanzarote, the average price aligns with that of Gran Canaria and Tenerife, remaining at 1.21 euros.
Amount of the Subsidy
After establishing all average prices, the differential between the amounts for the non-capital and capital islands determines the subsidy amount for each island through the following calculation:
-The subsidy will be 30 cents per litre for a differential equal to or exceeding 0.30 euros per litre.
-If the price differential is between 0.25 euros and 0.30 euros per litre, the subsidy will be 25 cents per litre.
-The subsidy will be 20 cents per litre if the differential ranges from 0.20 euros to 0.25 euros per litre.
-The amount will reduce to 15 cents per litre if the price differential is between 0.15 euros and 0.20 euros per litre.
-The subsidy will be 10 cents per litre for a differential that falls between 0.10 euros and 0.15 euros per litre.
-The subsidy will be 5 cents per litre when the average price differential between the non-capital islands and the capital is equal to 0.05 euros or less than 0.10 euros.
-Conversely, a differential of less than 0.05 euros will not qualify for a subsidy.
