Sweden to cut fuel taxes in package of measures to ease high prices

Sweden will temporarily cut fuel taxes, compensate car owners and extend a scheme to reduce electricity bills amid soaring energy prices as a result of´-:Russia's invasion of Ukraine. The government said cutting taxes on fuels would cost around 3.7 billion crowns ($383.58 million) while compensation to car owners would add another 4 billion.

Another 4 billion crowns would be put aside in the budget to incentivise consumers to switch to electric vehicles. ($1 = 9.6460 Swedish crowns)