Spanish Government pledges €15 million to aid on fuel prices

The Spanish Government has pledged €15 million to the Canaries to alleviate the effects of the Iran War on fuel prices. The figure could be increased to €60 million depending on the length of the conflict.

Canarian President Fernando Clavijo said the pledge was “satisfactory” after a meeting with Spain’s Minister for Territorial Policy, Ángel Victor Torres on Monday. Clavijo said the grant would allow the regional government to reduce the IGIC rate on fuel from 1% to 0%.

The agreement will also provide subsidies for inter-island maritime passenger and freight transport, as well as aid to vulnerable sectors such as agriculture.