Skyrocketing fuel, speculation alert: 'Mr. Prices' is back, here's how it works
So many complaints of speculation, given that 'the country has stockpiled reserves that should cushion these fluctuations'
Back in the field "Mister Prices", that is the Price Supervisor. Which actually, according to what Industry Minister Adolfo Urso reported, was already activated on Monday, i.e. after the weekend when tension increased due to the crisis in the Middle East.
The increases
An escalation that led to the blockade of the Hormuz Strait and thus to a sharp rise in fuel prices. Self-service petrol rises to 1.693 euro per litre, diesel to 1.753 auro. But on motorways, reports Codacons, diesel touches 2.5 euro. Assotir reports increases in diesel 'ranging from 10 cents in Lombardy to 24 in Sicily' and 'fuel supply problems in Campania and Lombardy'.
Complaints of speculation
The consumer association Adoc speaks of 'speculation' on the part of the oil companies, given that 'the country has stored reserves that should cushion these fluctuations'. Circumstance confirmed by the Minister for the Environment and Energy Security, Gilberto Pichetto Fratin: "We are in a position to be quite safe quantitatively. We are the country with the highest storage in Europe, we have diversified sources of supply'. The Centre for Consumer Education and Research Crc also speaks of speculation.
Mister Prices
For this reason, the Price Supervisor at Mimit, on the instructions of Minister Urso, has convened two meetings of the Early Warning Commission on Friday 6 March. The first will be held at 9.30 a.m. and will be devoted to energy market trends, with particular reference to oil products and fuels. The second, to follow at 11.30 a.m., will instead focus on the possible effects on inflation, with specific regard to the shopping trolley and the agri-food sector.
As early as Monday, monitoring had already been stepped up along the entire fuel supply chain, with particular reference to the companies' recommended price lists, distribution margins and prices at the pump: the first results were forwarded to the Guardia di Finanza yesterday. The Garante also asked the main oil companies for clarifications on recent price changes, in particular on the rapid upward adjustment of petrol and diesel price lists. Elements that will be further investigated at the two scheduled meetings of the Early Warning Commission.
