Italian state-controlled energy group Eni announced a cap on fuel pump prices for at least one month, effective from Monday, September 28. Its Enilive unit will sell diesel at no more than €2.19 per liter and petrol at no more than €1.99 per liter, representing a discount of about 17 cents from current average prices. This initiative supports Prime Minister Giorgia Meloni's administration, which thanked Eni, calling it "a commendable gesture of consideration for Italy" to curb high fuel costs impacting Italian families.
The initial 30-day price cap could be extended through the end of the year, depending on market and supply trends. The government has been struggling with soaring energy prices, recently renewing temporary cuts in fuel excise duties, which have cost the state approximately €3 billion this year. The government is also convening a meeting with refining executives on October 8 to discuss boosting domestic fuel output.
Fuel prices in Italy have been on the rise due to geopolitical crises, including the Iran war, which has impacted refinery capacity in the Middle East, and Ukrainian drone strikes on Russian refineries. The average price of gasoline recently hit €2.14 per liter, or nearly $10 per gallon, with diesel prices even higher. This surge has led to increased interest in low-emission vehicles, with battery electric vehicle sales in Europe growing by 52.2% year-over-year in August.
