Concerns raised over possible 50c-per-litre increase diesel prices by 2030
Study warns of price hikes if EU relies only on carbon markets to achieve emissions cuts
Tue, May 25, 2021, 14:27
Updated: Tue, May 25, 2021, 16:13
The price of a litre of diesel could spike by as much as 50 cents by 2030, if EU plans to use international carbon markets to set pricing carry on.
That is the conclusion of the Cambridge Trust for New Thinking in Economics. The Trust, which was originally set up by economist and environmental campaigner Terry Barker, has warned that “there is the potential to leave low-income households ‘stranded’ using heavily-taxed fossil fuel technologies as a result of the high up front costs of low-carbon alternatives or energy renovations, and other barriers to take-up such as the lack of incentives for landlords to invest in these technologies.”