Italy’s Council of Ministers has approved a new fuel decree-law, which extends by one week, until Thursday 17 September, the 17-cent discount on the price of diesel fuel.
The reduction in tax of 14 cents per litre translates into a lower pump price of around 17 cents per litre, taking into account the lower impact of VAT.
The new decree-law will cost around 80 million euros. According to what the government is letting slip, this would be the last generalised intervention, benefiting all consumers.
If the government intervenes again on fuel after 17 September, it will do so with a package of “targeted” measures, aimed at supporting low-income groups and those who use fuel for work.
According to Corriere della Sera, from March to today the government has spent around 2.6 billion euros on repeated cuts to excise duties and on support for road haulage (a tax credit on fuel purchases).
Within the governing majority, the League would like to fund the next measures with a tax on the windfall profits of oil companies, while Forza Italia is against.