Excise duties, revenue towards 45 billion: electricity and gas rise again
In the first 11 months of 2025, some levy items have already exceeded the previous year's total. Diesel at the pump costs more than petrol
by Dario Aquaro and Cristiano Dell'Oste
Motorists who have filled up on roads and motorways in recent weeks have noticed it immediately: the price ofdiesel at the pump consistently exceeds that of petrol. While waiting to see the possible repercussions of the US and Israeli attack on Iran, it was also the tax variable that weighed on the overtaking in early 2026, in particular the excise duty: the effect of the Budget law that from 1 January equalised the rates of the levy on petrol and diesel used as fuel, lowering one and raising the other, so as to bring them both to 672.90 euro per thousand litres. On a 50-litre fill-up the impact of the change in excise duty is EUR 2.78.
The rapprochement between petrol and diesel was already planned, to be implemented gradually over a five-year period starting in 2025. But with the acceleration, the government will be able to count on new resources as early as this year: 587.2 million, according to the technical report to the manoeuvre, which will be added to the 213 million foreseen by the price increases on tobacco and its surroundings.
In short, at first glance excise duties seem to confirm themselves as an 'ATM tax' which the state can draw on when it needs to reliably replenish the revenue stream. Increases on fuel and cigarettes have been a great classic of financial manoeuvres since the 1980s. In reality, the evolution of the last few years - between energy charge and the related countermeasures enacted by governments - calls for a deeper reading.
The impact on revenue
Like VAT, the excise tax is an indirect tax harmonised at European level. Structure and minimum amounts are set by EU rules, and the tax is generally levied on alcohol, tobacco and energy products. On the revenue side, the bulk - more than 50 per cent - comes from excise duty on energy products, derivatives and analogues, i.e. on the production, manufacture or import of fuels and combustibles.
Let us start with the most recent numbers. Revenues from excise and consumption taxes in 2025 will sail towards the 45 billion euro mark, considering the 3.5% year-on-year growth rate recorded between January and November (the last month for which official finance figures have been published). While waiting for the final annual figure, some elements are visible as of now: in November, revenues from excise duty on electricity (2.5 billion) and natural gas for combustion (2.2 billion) had already exceeded those for the whole of 2024, with increases of - respectively - 11.3% and 28.2% in the first 11 months of the year.
