Italy Absorbs Energy Shock Better Than EU Partners, Study Finds
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An Unimpresa study reveals Italy weathered the energy crisis better than France and Germany, with lower fuel prices and smaller percentage increases compared to the EU average, thanks to political courage and fiscal intervention.
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Why It Matters
Italy has absorbed a severe energy shock in relatively better conditions than its main European partners, with lower absolute prices and percentage increases below the EU average. This is attributed to fiscal intervention and a resilient supply structure.
Italy "has absorbed a severe energy shock in relatively better conditions than its main European partners: lower absolute prices than France and Germany on both fuels, percentage increases below the EU average, and fiscal intervention that has produced visible and verifiable effects in the weekly data of the European Commission".
This is stated in the analysis by the Unimpresa Study Center, which analyzed data from the European Commission's Weekly Oil Bulletin. In March alone - according to Unimpresa's processing - Italian diesel went from 1.702 to over 2 euros per liter, and gasoline from 1.655 to 1.779.
"But it is in the comparison with European partners that the most significant data emerges: in the period of acute crisis - from February 23 to April 20 - gasoline prices increased by 7% in Italy, compared to 18% in France, 15% in Germany, and an average of 12% in the entire European Union. For diesel, the Italian increase stopped at 24%, compared to 28% in France and 29% in Germany, once again below the EU average," Unimpresa points out.
"Cutting excise duties in the midst of an energy crisis, with international markets in turmoil due to the closure of Hormuz, required political courage and vision. Italian families and businesses today pay less for gasoline than their French and German colleagues: this is the concrete effect of a concrete measure.
We can only recognize the merit of a government that, faced with an unprecedented energy shock since 2022, chose to stand by those who work and produce," comments Giuseppe Spadafora, vice president of Unimpresa.
In absolute terms, Italy maintained lower pump prices than France and Germany for both fuels throughout the entire period. At the April 6 survey - the peak month - Italian gasoline stood at 1.761 euros per liter, compared to 2.031 in France and 2.241 in Germany. Italian diesel was at 2.092, French at 2.233, and German at 2.434. Even compared to the EU-27 average, Italian prices were below the average for gasoline throughout the period; only for diesel - a product on which Italian taxation is historically heavier - did Italy slightly exceed the European average during the phase of maximum pressure.
Overall, concludes the Unimpresa Study Center, Italy has shown resilience by combining an already operational price monitoring system, timely fiscal intervention, and a supply structure that has partially cushioned the peaks.
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Open Questions
- What specific fiscal measures were implemented by the Italian government?
- How sustainable are these lower prices in the long term?
- What are the long-term implications for Italy's energy security?
- How did the closure of Hormuz specifically impact global energy markets and Italy's supply?
