Eni introduces a price cap on fuel to counteract high prices

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.

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".