Windhoek:Slovakia will cap the retail margin on petrol and diesel at 10 euro cents (11 U.S. cents) per liter starting October 1, as announced by the country's Prime Minister Robert Fico.

According to Namibia Press Agency, the measure is aimed at mitigating the impact of rising fuel prices on consumers. Additionally, the government plans to cut fares for second-class train tickets by 50 percent from October 1 in response to the increasing fuel prices.

Fico acknowledged that while the cap may not prevent fuel prices from rising if global crude oil prices continue to increase, the move is intended to limit excessive markups by retailers. The government aims to encourage responsible behavior among retailers and maintain Slovakia's position among the EU member states with lower fuel prices.