Amid protests, Europe limited in curbing high energy prices

Miguel Ángel Rodriguez was one of 200 concrete truck drivers who held a slow-driving protest around Madrid this week. 

He said filling up used to cost 1,600 euros ($1,760) a month, but he’s been forking out an extra 500 euros since the start of the year because of the rising price of diesel.

MADRID (AP) Across Europe, governments are slashing fuel taxes and doling out tens of billions to help consumers, truckers, farmers and others cope with spiking energy prices made worse by Russia’s invasion of Ukraine.

But it’s not enough for some whose livelihoods hinge on fuel.

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“We will continue striking because, at the end of the day, it’s pretty much the same for us to go out to work or to stay at home,” Rodríguez said.

He warned that his rising costs were part of “a domino effect that is only going to drive us all to our ruin unless the government takes some definitive action.”

He’s among those in industries like trucking or fishing who are staging protests to push politicians to ease their financial pain.

The war has exacerbated a monthslong energy crunch in Europe, which is dependent on Russian oil and natural gas.

Governments have limited options to provide lasting solace as households and businesses face crippling energy bills, high prices at the pump, and other effects.

Erratic energy markets control natural gas and oil prices that have risen and fueled record inflation.

Such gauges “are sensible, and some of them, such as energy tax cuts, could be sustained indefinitely even if prices resume to increase,” said Elisabetta Cornago, a senior research fellow at the Centre for European Reform think tank who works in EU energy policy.

Ash she called them partial solutions that “only make a small difference.”

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