High fuel prices: following Eni’s lead, IP is also offering discounts. Here’s how much you can save

Following the decision by Eni, Socar, an Azerbaijani energy company, will also cap the prices of fuel sold on the Italian market by its subsidiary Italiana Petroli (IP). The group has decided to ‘strengthen its commitment to Italia’ with ‘the aim of setting a cap on the retail prices of petrol and diesel across its fuel distribution network’. The cap will be applied gradually, starting with the Ip-branded network, providing significant support to partners and network operators “with whom the company has built a relationship of complete trust, transparency and collaboration over the years, setting it apart within the national energy sector”.

 “An ‘important gesture of support for Italian families, confirming that it is possible to make a tangible contribution to curbing high fuel prices’,” commented Prime Minister Giorgia Meloni. “I would like to thank the President of Azerbaijan, Ilham Aliyev, for this gesture of support, which strengthens our cooperation, and the President of SOCAR, Rovshan Najaf.” The government, the Prime Minister assures us, “will continue to work to support families and protect their purchasing power, especially during this highly complex international period”.

According to AdnKronos, the fuel discount could potentially be available at around 8,500 outlets in Italia: in addition to the roughly 4,000 Eni/Enilive outlets, there are 4,500 IP outlets out of a total of around 22,000, extending the progressive discount to a network accounting for approximately 39 per cent of Italy’s roughly 22,000 petrol stations. According to well-informed sources consulted by AdnKronos, all eyes are on the behaviour of other major operators, such as Esso, which may join the discount scheme.

An average saving of 9.35 euros on a full tank of diesel and 8.45 euros on a full tank of petrol. This is the benefit of the fuel price cap introduced by Eni (a maximum limit of 2.19 euros per litre for diesel and 1.99 euros per litre for petrol), which, from today, will be felt by motorists who choose to fill up at the ‘Six-Legged Dog’ petrol stations. The initial calculations have been carried out by Adusbef, based on the average fuel prices reported by the Mimit. On the standard network, Eni’s initiative will mean a litre of petrol costs 16.9 euro cents less than today’s list prices, equating to a saving of 8.45 euros per full tank, explains Adusbef. For diesel, Eni’s fixed price will result in a saving of 18.7 euro cents per litre, equivalent to a saving of 9.35 euros per full tank. Calculating the expenditure of a household with two cars, the saving could rise to 17.80 euros per week – that is, around 80 euros per month – estimates the Unimpresa Research Centre, which extends its calculations to small businesses operating vans and light commercial vehicles: for them, the saving ranges from 12 to 37 euros per week per vehicle, excluding VAT, i.e. from 50 to 160 euros per month; for a fleet of ten vans, the benefit amounts to 245 euros per week and over 3,300 euros by the end of the year.

The savings will obviously be greater in those parts of Italia where average pump prices are higher than the national average, notes Adusbef: for example, in Bolzano, where diesel currently costs 2.428 euros per litre, the saving on a full tank of diesel will be almost 12 euros (11.9 euros to be precise), and 10.5 euros on a full tank of petrol. Next comes the Aosta Valley, which currently has an average diesel price of 2.404 euros per litre and where the average saving will be 10.7 euros per full tank; and Friuli with a saving of 10.5 euros (the average diesel price is 2.4 euros per litre). As for petrol, however, the greatest savings – apart from Bolzano – will be in Friuli-Venezia Giulia and Calabria, averaging -9.6 euros per full tank. The situation “remains very critical, however”, warns the Research Department of the CGIA in Mestre (Venice), whilst welcoming Eni’s price cut “with satisfaction”. Compared with 27 February, the day before the outbreak of the war between the US and Iran, the Venetian tradespeople note that “those who fill up at Eni petrol stations in the coming days will still pay 19.2 per cent more for petrol and 27.3 per cent more for diesel”.