In the Official Gazette the expected decree was published yesterday evening “Urgent measures to counter the economic and humanitarian effects of the Ukrainian crisis“within which, as we know, some are included measures to curb expensive energy. As for fuels, as we know, the government has decided to cut excise duties.
Therefore, following the publication in the Official Gazette, starting from today the rules come into force contained. This means that starting from today the first effects on petrol and diesel prices should start to be seen (it still takes some technical steps to make them effective). Technical times in hand, it is likely that the cuts will be evident from tomorrow.
In consideration of the economic effects deriving from the exceptional increase in the prices of energy products, the rates of excise duty on petrol and diesel used as fuel, referred to in Annex I to the consolidated excise text approved with the legislative decree of 26 October 1995, no. . 504, are restated, in relation to the period referred to in paragraph 2, in the following measures:
a) petrol: € 478.40 per 1000 liters;
b) oil from gas or diesel used as fuel: € 367.40 per 1000 liters.
As the Government had explained when the decree was presented, this measure will not be structural but it will last for a month.
The restatement of the rates of excise duty referred to in paragraph 1 is applied from the day of entry into force of this decree and up to the thirtieth day following the same date.
A choice that was made by the government as it wants to evaluate how the market will evolve over the next few weeks. Therefore, if in a month the prices should not have fallen, it is possible that the Government will intervene further. The cut in excise duties decided by the Government has caused the trade associations to discuss a lot in recent days, also due to an amount deemed not sufficient to bring the prices of petrol and diesel to acceptable values for families and businesses.
Then there is to say that oil prices have started to rise again. Yesterday, Brent rose to over $ 118 a barrel. Increases that could lead to new increases in the price of fuels and therefore to erode the cut on excise duties decided by the Italian government.