Fuel prices show no sign of stopping, and the government is studying measures to contain the increases, also evaluating the implementation of variable excise duties. The issue was the subject of a meeting today between Prime Minister Giorgia Meloni and Economy Minister Giancarlo Giorgetti. Sources explain that the discussion focused on the general economic situation, with particular attention to fuel price trends. The government "is examining possible initiatives to adopt, including with reference to the potential activation of the variable excise duty mechanism," and further meetings are scheduled in the coming days.
Since the war in Iran broke out, the government has contained fuel prices with a straight cut in excise duties — first by 20 cents per litre, then by 10, and finally by 5.
These measures have cost the state treasury billions of euros and are no longer sustainable, given Italy's enormous public debt.
Variable excise duties, invented by the Prodi government in 2008 and reformed by Meloni in 2023, are instead a self-sustaining price containment mechanism. In practice, it involves a cut in fuel taxes (the excise duties themselves) financed by the increase in VAT revenue on petroleum, resulting from the rise in crude oil prices.
The problem is that this tool allows only a limited reduction in prices — the economics website lavoce.info calculates between 7 and 10 cents per litre — and above all a delayed one, since the VAT must first be collected.
Today, Friday 24 July, the average price of fuel in self-service mode on the national road network stands at 1.968 euros per litre for petrol (compared to yesterday's price of 1.957) and 2.161 euros per litre for diesel (yesterday it was 2.141).
On the motorway network, the average self-service price is 2.059 euros per litre for petrol and 2.228 euros per litre for diesel.
The National Consumer Union (Unc) calculates that on the road network, one litre of diesel costs 2 cents more than 24 hours ago, meaning a full tank costs exactly one euro more than yesterday. Oil prices, after yet another spike on Thursday, have fallen slightly: Brent crude for September delivery pulled back to between 96 and 97 dollars. In New York, WTI was down 2.94% in the afternoon, but still at 89.48 dollars — a high level compared to before the war in Iran.
From Brussels, the EU oil coordination group is trying to dampen fears. This is the body that brings together experts from the European Commission, EU member states, industry, the International Energy Agency and NATO.
At present there are no supply problems, it states. Demand for crude oil and petroleum products in Europe can continue to be met through commercial stocks and alternative supplies from global markets.
However, it adds, the duration of the Middle East conflict could have a significant impact in the coming weeks and months, and could tighten markets further.
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