The Italian government is preparing to intervene in fuel prices, from gasoline to diesel, including LPG and methane. A decree activating a mobile excise tax mechanism to mitigate the impact of rising energy costs on pump prices is expected to be approved by the Council of Ministers on Tuesday.
Experts estimate the reduction could be between 4 and 5 cents per liter. However, the Ministry of Economy is finalizing calculations, with the government likewise considering additional tax measures to increase the excise tax cut.
Fuel prices have risen by approximately 35 cents per liter for diesel since the beginning of the crisis in the Middle East. The excise tax reduction under consideration by the government could therefore result in a limited but immediate decrease in prices.
Market focus is on shipping, as Kuwait cuts crude oil production. Fertilizer costs are also rising.
