Diesel: excise duty cut reinstated – discount valid until 7 November
A reduction of 4.9 cents per litre, funded by 38.7 million from the VAT windfall in September
Eleven days of discounts on diesel prices. After a hiatus of more than three weeks, the government is once again intervening on diesel excise duties, with a cut of 4 centesimi per litre which, including VAT, will amount to 4.9 centesimi at the pump.
Discount funded by additional revenue
As stated in the interministerial decree signed by the Ministry of Economy and Finance (MEF) and the Ministry of Economic Development (MASE), the discount is to be funded by the VAT windfall from September, which, as Prime Minister Giorgia Meloni said a few weeks ago, amounted to around 170 million. The government has decided to use only part of this sum – 38.7 million – whilst setting aside some funds for other measures.
Incidentally, when the reduction ends on 7 November, the government will be able to consider an extension, as the figures for the additional VAT revenue collected in October will be available by then, and the mechanism for adjusting excise duties could therefore be triggered once again.
Eni’s price cap falls again
Not to mention that, in the meantime, the measures put in place by energy companies to keep prices in check have been extended. Eni has extended the price cap until the end of the year, and Q8 has also stated that its commitment will run until 31 December.
Furthermore, the price cap set by the Italian subsidiary will now fall slightly for diesel, to around 2.2 euros per litre (down from 2.25 euros); the cap for petrol, however, will remain at 1.99 euros.
