Italy reduces fuel excise duties to limit price increases

The Italian government, led by Prime Minister Giorgia Meloni, has approved a temporary reduction of fuel excise taxes by 0.25 euros per liter, in an attempt to help citizens cope with rising pump prices caused by the conflict in the Middle East.

The measures, part of an emergency package, will be valid for 20 days and also include a cap on pump prices for diesel, set at 1.90 euros per liter. Deputy Prime Minister Matteo Salvini mentioned that discussions with oil companies will continue, and the government may consider taxing their additional profits. The average price of diesel has reached 2.10 euros per liter, while that of gasoline is 1.87 euros.