Diesel price, new excise duty cut and discount on diesel from today to 7 November

New excise duty cut on diesel, but only for eleven days. After more than three weeks without intervention, the government has decided to discount diesel with a reduction of 4 cents per litre, which rises to 4.9 cents also considering VAT. The measure will remain in force until November 7, when the executive will be able to evaluate whether to extend it based on the new resources available.

Discount financed with VAT extra revenue

The resources to finance the intervention come from the extra VAT revenue recorded in September and which, a few weeks ago, Prime Minister Giorgia Meloni had quantified at around 170 million euros. According to what was reported by Il Sole 24 Ore, from these resources the government has allocated 38.7 million euros to reduce the price of diesel in the inter-ministerial decree signed by the Ministry of Economy and Finance (MEF) and the Ministry of the Environment and Energy Security (Mase). The November 7 deadline, in fact, does not exclude an extension of the measure. When the data relating to the VAT extra revenue for October are available, the government reserves the right to evaluate a new intervention through the mobile excise duty mechanism.

Eni lowers the ceiling on diesel, Q8 extends until December

In parallel with the tax reduction, initiatives by energy companies to contain fuel prices continue. Eni has extended its price cap until the end of the year, while Q8 has also confirmed that its commitment will continue until December 31st. Furthermore, the limit set by Eni for diesel changes slightly, falling to around 2.20 euros per liter compared to the previous 2.25 euros. For petrol, however, the ceiling remains unchanged at 1.99 euros per litre.