Italy's ENI and IP cap fuel prices as costs soar

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Energy firms step in as government eases back on diesel tax relief, with Meloni welcoming the move and opposition and trade bodies raising concerns.

ENI has set a ceiling of €1.99 per litre for petrol and €2.19 for diesel across its Enilive network.

Socar said levels would be set to ensure the survival of the supply chain, and that ways of extending the measure to Esso stations and other operators supplied by IP would be studied.

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The useful part

Energy firms step in as government eases back on diesel tax relief, with Meloni welcoming the move and opposition and trade bodies raising concerns. ENI has set a ceiling of €1.99 per litre for petrol and €2.19 for diesel across its Enilive network. Socar said levels would be set to ensure the survival of the supply chain, and that ways of extending the measure to Esso stations and other operators supplied by IP would be studied.

How it works

Together, the two networks cover around 8,500 of Italy's roughly 22,000 petrol stations, or about 39 per cent of the total.
Italian energy group ENI began capping petrol and diesel prices at its service stations on Monday 28 September, and rival IP said it would follow with a phased cap of its own, as fuel costs continue to bite...
On Sunday the average self-service price on ordinary roads was €2.159 per litre for petrol and €2.377 for diesel, according to the enterprise ministry's price monitor.
Consumer group Adusbef estimates a full 50-litre tank will cost €8.45 less for petrol and €9.35 less for diesel at ENI stations.

What to take from it

The company says this is about 17 cents below its current average prices.

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