Fuel prices set to rise this weekend: petrol at 2 euros per litre and diesel heading towards 2.1 euros
The national average price of petrol has reached 1.998 euros, with the highest prices recorded in Bolzano (2.031 euros), the Aosta Valley (2.018 euros) and Friuli (2.017 euros)
Key points
Whilst the price of Brent – the main indicator for gauging the cost of oil on the world market – appears to have stabilised, fuel prices continue to rise steadily. And they are edging ever closer to what the Government considers to be critical thresholds. The situation is being monitored constantly ahead of next Tuesday’s Cabinet meeting, the last one before the summer recess.
Petrol prices at their highest since the escalation began
Let’s look at the figures. Starting with the international picture, Brent crude closed at $87 a barrel. In Italia, however, prices at petrol stations have been rising for days.
The national average price of petrol has risen to just under two euros per litre (1.998 euros), with the highest prices recorded in Bolzano (2.031 euros), the Aosta Valley (2.018 euros) and Friuli (2.017 euros).
The (expected) rise in diesel prices
The situation is different for diesel. Since the start of the escalation, it has been the fuel attracting the most attention, as its price has always been higher due to factors linked to inelastic demand. For this reason, last Monday the Government cut taxes on diesel alone, by 17 cents in total between excise duty and VAT. On that day, a litre of diesel cost €2.185; today it costs €2.092. In other words, the actual reduction was less than 10 cents.
The Government’s assessments
Meanwhile, the Government has stepped up its monitoring of petrol stations, as demonstrated by the checks carried out by the Ministry of Enterprise’s Price Regulator immediately following the excise duty cut.
