Socar calms fuel prices on the Italian Petrol network

Socar, an Azerbaijani energy company, has decided to "calm the prices of fuels marketed on the Italian market by the subsidiary Italiana Petroli (Ip)". This can be read in a note from the group, which finalized the acquisition of Italiana Petroli from Api Holding on 8 May.

The group, it is explained, has decided to "strengthen its commitment towards Italy" with "the aim of setting a limit to the sales prices of petrol and diesel along the fuel distribution network". "The limit will be applied progressively, starting from the IP brand network - it is explained - guaranteeing significant support to the partners and network operators with whom the company has built a relationship of full trust, transparency and collaboration over the years, which distinguishes it within the national energy panorama".

"The price value will be established based on the different needs to guarantee the survival of the supply chain, made up of thousands of operators", explains the note, which underlines that "in this way the Azerbaijani state company adheres to the Italian government's appeal to meet the needs of families and businesses, which for over six months have been faced with extraordinarily high fuel prices due to the context of strong geopolitical instability that impacts global supply chains".