Amendment to the Consumption Tax Regulation applicable to petroleum products
Decree-Law No. 43/77 It is generally known that the price of petroleum products has increased dramatically in recent years. Despite this phenomenon, whose consequences affect all non-oil producing countries, and particularly ours, the trade prices of gasoline, diesel and oil in the Democratic Republic of São Tomé and Príncipe have not changed since February 1974, except for a slight tax adjustment, thanks to the substantial subsidy they have been granted. However, in view of the constant increase in the cost of these products, the State finds it impossible to absorb the resulting price difference solely through the increasingly large-scale subsidy mechanism.