Business · Energy & Commodities · 7 hrs ago

Diesel tax cut expires in Italy, risking small price rises

Diesel tax cut expires in Italy, risking small price rises

Italy’s 4.9-cent-per-litre diesel tax discount expired on Saturday, 7 November, and was not extended.

From Sunday, the return to the usual tax rate could add about 2.44 euros to a 50-litre fill-up.

The temporary cut had been introduced at the end of October after higher international oil prices increased fuel costs.

But oil prices have since fallen, with Brent crude down about 16% in recent days, which could help lower pump prices.

On Saturday, average self-service prices were 2.224 euros per litre for diesel and 2.001 euros for petrol on Italy’s road network.

Major fuel companies’ price caps kept prices below 2.20 euros for diesel across much of the network.

Drivers may see the tax increase partly offset if lower oil prices lead to cheaper fuel at the pump.

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What people are saying

AdusbefConsumer association
the recent trend in oil prices opens the door to the possibility of further drops at the pump independently of the tax discount
via ANSA
Ministry of Enterprises and Made in ItalyGovernment ministry
Thanks to the price cap joined by the main companies, self-service prices nevertheless remain below 2 euros per litre for petrol and 2.20 euros for diesel across much of the road network
via ANSA