Fuels, excise effect reduces: price increases for petrol and diesel

Rising industrial fuel costs are pushing up the prices charged by petrol stations. The price increases are thus gradually reducing the effect of falling excise duties, effectively halving their impact. Compared to the average prices before the government decree was passed, gas oil at the pump only drops by 12.7 euro cents (against an excise cut of 24.4 cents) and petrol falls by 15 cents.

However, looking at the price applied on Sunday 22 March compared to Saturday 21 March, gasoil saw generalised increases in the average price and petrol saw only one reduction, of 0.1 cents, in Molise.

It is clear that when the fuel decree ends its effects on 8 April, prices will rise again if there are no further interventions. The indication that has come in recent days from the ECB, which is closely monitoring the impact on inflation, is that of the adoption of measures limited in time and focused in their effects. An extension is possible, but it will be necessary to find the resources, a not easy task that will fall to Economy Minister Giancarlo Giorgetti. The pressure also concerns the extension of the discount to certain categories. The haulage and fishing sectors have benefited from the measures. The agricultural sector has been left out, which has also begun pressing for a possible price increase for the food chain.

Then there is the bill decree: in Parliament, after the discussion in the European Parliament on the ETS, the decree will start its process again. At the moment the measure that concerns families provides a bonus of 115 euros for holders of the social bonus, generally the poorest families. An intervention to strengthen this aid is not excluded. The energy node is obviously linked not only to price but also to security of supply. This is also why Prime Minister Giorgia Meloni will be in Algeria on Wednesday to push for gas supplies.

Meanwhile, prices at petrol stations show a general increase. The average price of diesel stands at €1.976 per litre, while petrol rises to €1.717 per litre. On motorways, diesel rose to €2.045 per litre, green to €1.781 per litre. In some regions, self-service diesel prices are getting closer and closer to the 2 euro/litre threshold, with the highest prices in Campania (1.995 euro/litre), Calabria (1.994 euro/litre), Molise (1.990 euro/litre). For petrol, on the other hand, the Basilicata leads the fuel price league table with 1.747 euro per litre.