Italy’s government has implemented a decree to reduce excise taxes on gasoline and diesel fuel, effective Thursday, according to statements from officials.
The move, designed to alleviate rising costs for consumers and businesses, will result in an immediate price decrease of “25 cents per liter for everyone,” Prime Minister Giorgia Meloni announced on the social media platform X following a cabinet meeting on Wednesday evening.
Deputy Prime Minister and Transport Minister Matteo Salvini stated that the tax reduction will be in effect for 20 days. He further indicated that “in the coming hours, Italians will pay less than Germans, French or Spanish,” as reported by Italian television station Rete 4. The government is also providing tax credits to transportation companies to prevent increased fuel costs from impacting the price of other goods.
In addition to the excise tax cuts, the government decree includes an “anti-speculation mechanism” intended to stabilize fuel prices. According to Prime Minister Meloni, the pricing set by oil companies and gas station operators will be “strictly linked to the actual change in crude oil prices in the global market.” This measure aims to “immediately halt unjustified price increases” and ensure that any decline in oil prices is reflected in lower prices at the pump.
The Italian government is utilizing legislative decrees to expedite the implementation of these changes. While these decrees can seize effect within hours, they require parliamentary approval within 60 days to remain in force.
The intervention comes as fuel prices continue to be a key concern for European economies, impacting both household budgets and business operating costs. Italy’s swift action highlights the government’s commitment to addressing inflationary pressures and supporting its citizens and industries.
