Eni introduces a price cap on fuels: €2.19/l for diesel and €1.99/l for petrol
Quick Look
- Eni has set a price cap on fuels sold by Enilive starting from September 28: €2.19/l for diesel and €1.99/l for petrol, approximately 17 cents below current average levels.
- The measure, linked to the tax relief on excise duties, will have an initial duration of 30 days with a possible extension until the end of the year.
- The government and consumer associations have welcomed the initiative.
AI-generated summary
Why It Matters
Eni's initiative is part of a context of increasing fuel prices due to international geopolitical crises and reduced refining capacity in Europe, with almost 30 refineries closed in the last 15 years.
Eni's move against high fuel prices. The company has set a maximum limit (price cap) to the price of fuels marketed by Enilive equal to 2.19/l for diesel and 1.99/l for petrol (around 17 cents less than current average levels). The price cap is related to the excise tax relief in force and will be applied starting from 28 September, for an initial duration of 30 days, with the possibility of extension until the end of the year depending on market and supply trends. The reactions from the government and associations were positive.
Eni's note
In a note the company explains that "the contraction in the supply of refined products on the international market resulting from the ongoing geopolitical crises, associated with the lack of refining capacity at a European level (almost 30 refineries closed in the last 15 years), has brought fuel prices to extremely onerous levels for Italian families and companies. In this context, Eni intends to make a new contribution of solidarity to the country, consumers and its customers, which joins the initiatives already undertaken by the Company since last March through an only partial reversal of the increase in international quotations on the recommended prices at its distributors, thus absorbing a significant part of it".
See also
Diesel and petrol prices, Italy among the most affected by high fuel costs
The reactions
The Government thanked Eni "for the important initiative to place a maximum ceiling on the price of petrol and diesel". "A laudable act of attention to Italy", explained Palazzo Chigi in a note, "which goes in the desired direction of controlling the high cost of fuel which, due to the difficult international context, is affecting Italian families". "Good" also for Codacons: a measure which "considering the price lists at the pump and the reduction in the discount on excise duties which will start tomorrow, will lead to a saving of 10.4 euros on a full tank of diesel, a benefit which rises to 11.2 euros for a full tank of petrol". The association underlined: "An excellent initiative to control the unabated growth of prices at the pump, and we now hope that other oil brands will follow Eni's example by introducing a price cap".
"Positive news in a valley of tears", Assoutenti also commented: "We believe there are all the conditions for the government to intervene by setting by law a temporary price cap on fuel prices, as also requested by the petrol station associations themselves".
What to Watch
AI outlook — possibilities, not facts
The price cap on fuels could be extended beyond the initial 30 days, until the end of the year, depending on market and supply trends.
Possible · Within weeks
Open Questions
- What will be the criteria for a possible extension of the price cap beyond the initial 30 days?
- How will the other oil companies operating in Italy react to this Eni initiative?
- What will be the actual impact on the energy expenditure of Italian families in the medium term?
