Italy to discuss increasing fuel production at refineries — OilPrice

In Italy, the ministers of industry and energy security will meet with leaders of the oil refining sector on October 8 to discuss a possible increase in gasoline and diesel fuel production. This is intended to help reduce fuel prices, which have reached record levels, OilPrice reports.

Meeting with industry representatives

Industry Minister Adolfo Urso and Minister of Environment and Energy Security Gilberto Pichetto Fratin invited representatives of the Unem industry association, as well as Sonatrach, Socar-IP, Iplom, KPI, Alma Petroli, Ludoil/Isab, Eni, Saras and Innovhub, to the meeting.

The parties will consider potential measures to increase domestic fuel production. Italy's Ministry of Industry announced the convening of the meeting on Friday.

More current news is available on the UA.News Telegram channel Telegram.

Gasoline and diesel prices

According to the publication, the average price of gasoline in Italy reached 2.14 euros per liter this week, which is roughly equivalent to nearly $10 per gallon. Diesel fuel costs even more amid rising international oil prices and a diesel shortage that is particularly felt in Europe.

The government of Prime Minister Giorgia Meloni has spent about 3 billion euros since the beginning of the year on several rounds of cuts to fuel taxes and excise duties. Record-high diesel prices have also been recorded in Germany and France in recent days.

OilPrice links the limited supply of petroleum products to operational problems at refining facilities in the Middle East and the Russian Federation, an aggressor state. The publication also notes that sales of battery electric vehicles in Europe, including in the United Kingdom, Switzerland and Norway, increased by 52.2% year-on-year in August.