Eni to cap diesel and petrol prices in Italy — ANSA English

Italian energy company Eni will set a maximum price for fuel sold by Enilive: €2.19 per litre of diesel and €1.99 per litre of petrol. The cap will take effect in Italy on 28 September for 30 days and may be extended until the end of the year depending on the market situation and supply conditions.

Prices below the average level

As ANSA English reports, the prices set by the company are approximately 17 euro cents per litre below the current average level. Eni said that the price cap is linked to the current excise duty relief.

The company explained the decision by a reduction in the supply of petroleum products on the international market amid geopolitical crises, as well as a lack of refining capacity in Europe. According to Eni, nearly 30 oil refineries have closed in Europe over the past 15 years.

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Excise duty relief for diesel

On 16 September, the government of Giorgia Meloni extended the reduction in excise duty on diesel fuel until 5 October, while gradually reducing the amount of the relief. From 18 to 25 September, the reduction in excise duty and VAT amounted to 12.2 euro cents per litre, while from 26 September to 5 October it was 6.1 euro cents.

The excise duty on diesel from 18 to 25 September was set at €572.90 per thousand litres, and from 26 September to 5 October at €622.90. The standard excise duty rate is €672.90 per thousand litres.

Eni also said that since March it had passed on only part of the increase in international quotations to recommended retail prices at its filling stations, absorbing a significant share of the costs. The company reported a commitment to ensure the operation of biorefineries in Venice and Gela, as well as to develop and transform sites in Livorno and elsewhere in Italy.