Italian Oil Companies Set Price Caps on Fuel

Italian energy firms Eni and IP (Italiana Petroli) have announced they will implement price caps on fuel sales. At Eni stations, diesel will be capped at a maximum of 2.19 euros per liter, while gasoline prices will not exceed 1.99 euros per liter. Socar, which operates IP, also stated it would introduce price limits, though specific figures were not provided.

The new price caps are set to take effect on September 28 and will initially last for 30 days. Both companies are considering extending the measure through the end of the year. Eni cited high fuel costs resulting from geopolitical crises as the reason for the action, calling it an act of "solidarity with the country, consumers, and its customers."

The decision coincides with the Italian government's gradual reduction of fuel tax relief. The excise duty discount on diesel was halved from early October, with a "flexible excise tax" mechanism to follow, allowing the government to regulate prices through tax adjustments.

Italian Prime Minister Giorgia Meloni thanked the energy companies for their price limits, deeming it a significant gesture of consideration. However, transport companies and farmers have expressed dissatisfaction with the high fuel prices. Transport operators in Sicily have threatened a strike in mid-October if the government does not provide solutions.