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PETROMIRALLES COL·LABORA AMB LA CURSA RAC1
INFORMATIVE NOTICE: CHANGES IN THE EXCISE TAX STRUCTURE AND REPEAL OF THE REGIONAL TAX BRACKET AS OF JANUARY 1ST 2019
We inform you that as of January 1st 2019 the regional tax rate on hydrocarbons will be repealed.
The derogation does not mean however that the tax on hydrocarbons will decrease. The regional tax bracket which was paid to the autonomous regions of Spain will be integrated in the state tax bracket on hydrocarbons. As a consequence, the state tax will increase from 0.024 to 0.072 €/liter.
The table below shows the excise tax on different products as of January 1st 2019:
|
PRODUCT |
GENERAL TAX |
STATE TAX |
REGIONAL TAX |
|
DIESEL |
307 |
72 |
REPEALED |
|
RED DIESEL |
78,71 |
18 |
REPEALED |
|
GASONLINE 95 |
400,69 |
72 |
REPEALED |
|
GASOLINE 98 |
431,92 |
72 |
REPEALED |
* amounts per 1000 litros
The recoverable amount of the excise tax will be 49 euros per 1000 liters (0.049 €/liter). If you meet the legal requirements to do so, we recommend you apply for this tax refund.
PETROMIRALLES offers a complete tax recovery service (including the excise tax recovery) to its national as well as international customers.
AS SUMMER HEATS UP, GAS PRICES STAY COOL
Even with the peak travel season in full swing, gasoline prices are stuck in reverse.
Gas prices have plunged to their lowest July level in 12 years, according to AAA, even as Americans are racking up more miles.
In fact, gas prices have dropped in 39 out of the last 40 days, lopping 20 cents a gallon off in total during that span, according to AAA.
"Gas is getting cheaper as we're moving into the busiest part of summer travel," AAA spokesman Michael Green said. "Those are real savings that add up...And we've seen that cheaper gas prices are motivating people to drive more and to take long trips this summer."
World "petro-politics" is the cause. Leaders in Saudi Arabia, one of the world's top oil producers, have held down prices to dampen production in other nations, including the resurgent oil industry in the U.S.. “It's their goal to maintain their market share and to have the price where it is now so that they can have long term success in the future,” Green said.
In the U.S, the outlook for the rest of 2016 is for even cheaper gas, partly because of the change in seasons. Prices typically fall as the summer wraps up and vacationers head for home.
Amid a global glut of oil inventories that has kept oil prices below $50 per barrel for most of 2016, the national average price of gas dropped to $2.19 on Thursday, marking its lowest average for this time of year since 2004, according to AAA. Making the difference even more profound, the numbers aren't adjusted for inflation. It's the cheapest average since April 28.
U.S. gas prices, which hit an all-time peak of $4.11 a gallon in July, 2008, are now about 57 cents cheaper per gallon than last year and $1.38 per gallon cheaper than in 2014.
That translates into savings of $15 to $35 per fill-up, compared to two years ago. Some 30% of U.S. gas stations are selling gas for less than $2 per gallon, says the AAA.
"It does make a difference," said Chris Carroll, a home remodeler from Lehigh Acres, Fla., when asked about regular unleaded gas prices hovering around $2 a gallon as he filled up. Every bit of savings helps, he says, especially since he uses premium in his big Ram work truck and logs 8,000 miles a month.
Demand for gasoline is among the highest it's been in recent years, said Patrick DeHaan, senior petroleum analyst for GasBuddy, a group that studies retail fuel pricing.
DeHaan projected that about 75% of the nation's 135,000 gas stations would be below $2 per gallon by Thanksgiving, barring any unexpectedly disruptive event.
With the lower prices, U.S. drivers are saving around $239 million per day on gas compared to last year, and $626 million per day compared to 2014, according to GasBuddy.
"Who knows where it's going in the economy, but there's a lot of money that is not being spent at the pump that was two years ago," DeHaan said.
That's in spite of increased gas taxes in the state of Washington and Maryland that took effect earlier this month.
AN ECONOMIC FORECAST FOR THE EUROPEAN UNION
This is what to expect from the week ahead:
ECONOMY
Taking the pulse of the eurozone.
Tuesday morning, the European Commission will announce its spring economic forecast for growth and employment across the 28 member states of the European Union. The forecast may also shed light on whether thelong-awaited recovery in the eurozone may finally be consolidating and on the effects of falling prices and the economic slowdown in China. The commission, which makes the forecasts three times a year, may update its estimates about the costs and benefits of the ongoing large-scale migrations to European nations. James Kanter
U.S. job market numbers are due.
On Friday at 8:30 a.m., the Labor Department is scheduled to release its report on the nation’s hiring and unemployment for April. With 73 months of uninterrupted job growth in the private sector, the American economy has already broken a record. In the March report, there were other encouraging gains aside from the impressive addition of 215,000 jobs. Average hourly wages increased by 0.3 percent while the proportion of Americans in the labor force — which had been on the decline — hit a two-year high at 63 percent. While the economy’s overall growth rate has been sluggish, the job market has remained a bright spot. Wall Street estimates that employers hired about 200,000 workers last month, and that wages will continue their forward momentum. Patricia Cohen
AUTOS
Analysts expect new vehicle sales to rise.
Automakers on Tuesday are scheduled to report sales of new vehicles in the United States in April, and analysts expect the industry to report an increase over the same month a year ago. The research firm Kelley Blue Book has forecast a 4 percent improvement and a seasonally adjusted annual sales rate for the month of about 17.5 million vehicles. While trucks and sport utility vehicles continue to propel the overall growth of the market, passenger cars made by Honda and Nissan are also selling well. Analysts will be watching which auto companies are increasing discounts and other incentives to improve their sales, and whether Volkswagen canhalt its steady decline in the United States since admitting last year that it cheated on diesel emissions tests. Bill Vlasic
Tesla to share Model 3 numbers.
The electric carmaker Tesla Motors is expected to report its first-quarter earnings on Wednesday, and will probably release more details on how much money it raised by taking $1,000 reservations for its forthcoming Model 3 vehicle. The company has said it received deposits for more than 325,000 of its newest electric car, which will not be available for sales until the end of the next year at the earliest. Tesla is preparing to expand its manufacturing operations in California and planning to build a battery plant in Nevada. Bill Vlasic
BANKS
Quarterly results for European banks.
It will be another busy week for bank earnings as several of Europe’s largest institutions report their first-quarter results. The British bank HSBC, the Swiss lender UBS and the French banks BNP Paribas and Société Générale are all expected to provide updates to their investors. The first quarter has been a difficult one for lenders as uncertainty in the financial markets has weighed on banking results in Europe and the United States. The challenging environment comes as several of Europe’s biggest lenders are in the midst of reshaping their businesses. Chad Bray
TECHNOLOGY
Alibaba focuses on efficiency and expansion.
Alibaba will look to build on the momentum of its strong earnings at the end of last year when it announces results for the first quarter on Thursday. The Chinese e-commerce giant has struggled to live up to the huge hype ahead of its listing in 2014, and has been working to become more efficient even as it expands operations to rural parts of China. Many analysts will be watching the company’s performance as an indication of the broader confidence of the Chinese consumer as the world’s second-largest economy continues to experience slower economic growth. Paul Mozur
COMMODITIES
Steel industry hopes for stabilization.
ArcelorMittal, the world’s largest steel company, is planning to report first-quarter earnings on Friday. Investors will study the results to see whether the beleaguered steel industry is beginning to turn around. ArcelorMittal, which lost nearly $8 billion in 2015, and other steel makers are having success in persuading the United States and the European Union to impose protective tariffs on Chinese steel exports that the companies say are undercutting their products. But analysts expect the Luxembourg-based company to report lower profits than in the first quarter of 2015. Stanley Reed
MEDIA
Redstone trial is set to begin.
For the last five months, the ailing media mogul Sumner M. Redstone has been the subject of a salacious legal battle over his mental capacity. On Friday, a public trial is scheduled to begin. The suit was filed in Novemberby Manuela Herzer, a former companion to Mr. Redstone. Ms. Herzer claims that Mr. Redstone, 92, was not mentally competent in October when he removed her from a directive that would have given her supervision over his health decisions. On the same day, Mr. Redstone removed Ms. Herzer from his personal estate, in which he had planned to leave her $50 million and his Los Angeles mansion, valued at $20 million.
Ms. Herzer has said that she has fought the legal battle out of love for Mr. Redstone and that she is concerned for his well-being. Lawyers for Mr. Redstone have called the suit meritless and have said that she is after his money.
IRAN NUCLEAR DEAL: KEY DETAILS
Lifting sanctions
Sanctions imposed by the UN, US and EU in an attempt to force Iran to halt uranium enrichment have crippled its economy, costing the country more than $160bn (£110bn) in oil revenue since 2012 alone. Iran stands to gain access to more than $100bn in assets frozen overseas, and will be able to resume selling oil on international markets and using the global financial system for trade.
Iran will not see sanctions lifted until the IAEA confirms that it has followed through with its end of the JCPOA. Should Iran violate any aspect of the deal, the UN sanctions will automatically "snap back" into place for 10 years, with the possibility of a five-year extension.
If the Joint Commission cannot resolve a dispute, it will be referred to the UN Security Council.
Iran has also agreed to the continuation of the UN arms embargo on the country for up to five years, although it could end earlier if the IAEA is satisfied that its nuclear programme is entirely peaceful. A UN ban on the import of ballistic missile technology will also remain in place for up to eight years.
NEW TOOL IN THE ONLINE CUSTOMER AREA
Petromiralles, constantly looking at ways to improve its services, offers its customers a new tool in the online Customer Area at www.petromiralles.com, the so-called Advanced Area, where customers can manage their fuel cards directly: change the card limits, (de)authorize products, change PIN-codes and block cards in case of necessity.
For security reasons, the customer must assign an Account Administrator to manage the Advanced Customer Area, who will be responsible for registering other users as well as defining their functions. The Administrator may choose between the following profiles for the users he authorizes.
• Inquiry User. This user type can only request information on supplies, invoices and consumptions/card balances. This user may registered without further authorization on www.petromiralles.com.
• Advanced User. This user is authorized to make changes in the card settings.
Procedure for Advanced User Area registration:
1- Send an email to fuelcards@petromiralles.com indicating your customer code, customer name and email address.
1- Petromiralles will generate a contract with the details of the authorized representative of the company who appears on the fuel card contract.
2- Petromiralles will send this contract by email.
3- The customer must print two copies and sign both.
4- The contract will provide the user name of the Account Administrator. Only one Account Administrator per customer is given.
5- The Account Administrator must sign the contract and complete the requested information:
a. Cell phone number
b. Email address
6- The Account Administrator provides the details of users to be assigned for card management (Advanced User).
7- The customer must send two signed contract copies to Petromiralles.
8- If the customer wishes to allow access to the Advanced Area to additional third authorized users (Advanced Users), then Petromiralles will create the corresponding user names.
9- Petromiralles will send an email with the password of the Account Administrator to the Account Administrator’s email.
10- Petromiralles will send a separate email with the user names and passwords of the requested additional users (Advanced Users) to the Account Administrator’s email address.
Petromiralles will sign a copy of the original contract and return it to the customer by regular mail.
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