Fuel prices continue to rise: prices in Milan have peaked at over 2.6 euros per litre
According to the Mimit Observatory, the average self-service price across the national road network is 1.979 euros per litre for petrol and 2.180 euros per litre for diesel. On motorways, the average self-service price is €2.069 per litre for petrol and €2.249 per litre for diesel.
Key points
- Urso: variable excise duties using VAT windfall revenue
- The new record highs
- Prices recorded by the Mimit Observatory
- Pressure from trade associations
- Schlein: the government should accept our proposal on variable excise duties
- Conte: we must get the country back on its feet
- Renzi: a shell game over high energy prices
Tension remains high over fuel prices, with diesel now having stabilised at at over 2 euros per litre. Pending further action via decree from the Government – which Prime Minister Giorgia Meloni and Economy Minister Giancarlo Giorgetti discussed on Friday – new, rather discouraging signs are emerging for motorists, just as a ‘red alert’ weekend for the summer exodus. Meanwhile, Adolfo Urso, Minister for Enterprise and Made in Italy (Mimit), told Tgcom 24 that regarding the possibility of introducing variable excise duties, ‘this is an assessment currently being carried out by the relevant ministry, namely Giancarlo Giorgetti’s Ministry of the Economy’.
Urso: variable excise duties using VAT windfall revenue
Adolfo Urso added that ‘the mechanism of variable excise duties allows the additional VAT revenue to be used to cap fuel prices: this is one of the solutions being considered, alongside others which must nevertheless be assessed, targeted and effective, such as the tax credit scheme already in force in the road haulage sector”.
The new record highs
Turning back to prices, surveys carried out by the Ansa news agency show fuel prices soaring. According to reports, in Milan, petrol is over 2.6 euros per litre at a petrol station in the residential area of Via Correggio, and at most stations it has broken the two-euro barrier, with the highest prices mainly along the ring road (2.189 in Muggiano, €2.439 with attendants or €2.339 with attendants in Assago).
Prices recorded by the Mimit Observatory
These are certainly peaks, but the ‘temperature’ of prices remains high throughout Italia. To get a more comprehensive picture of the situation, we need to refer to the latest data collected by the Fuel Prices Observatory of the Mimit (Ministry of Enterprise and Made in Italy). On Saturday 25 July, the average self-service price across the national road network stood at 1.979 euros per litre for petrol and 2.180 euros per litre for diesel. On motorways, however, the average self-service price was 2.069 euros per litre for petrol and 2.249 euros per litre for diesel.
Pressure from trade associations
So the situation remains very much the same as it has been over the last few days. Trade associations and consumer organisations are issuing statements estimating the impact of the price rises on the finances of the public and businesses, and are renewing their call for the Government to act swiftly to introduce price controls.
