After days of doubts about what the Meloni government’s response would be, between bonuses or cutting excise duties, the decision was finally made. The Council of Ministers immediately launched the fuel decree and approved the excise duty cut of 24.91 cents. The fuel price cut starts from March 19th and will continue for at least 20 days, with the possibility of extension.
Just over half a billion has been allocated for the operation, which comes almost as a surprise with a Council of Ministers meeting at 7pm in the evening. Meloni, speaking on Tg1 after the green light, explained that the decision came to immediately stop “unjustified increases” and “the possible surge in prices linked to the crisis”. The decree also includes tax credits for hauliers and fishing vessels and a strengthening of anti-speculation controls.
The cut in excise duties comes against the expensive fuel
The Council of Ministers, which lasted just 30 minutes, gave the green light to the decree law to combat high fuel costs. Against the rise in prices, due to the attack of the United States and Israel against Iran and its response, several tools have been confirmed. The bonus hypothesis was put aside to meet the proposal that had also been coming from the opposition for several weeks: the cut in excise duties.
Thus arrive the “Urgent provisions regarding oil prices connected to crises in international markets”, the name of the provision which aims to stop “unjustified” increases and the possible surge in prices linked to the crisis.
As claimed by Prime Minister Meloni in a social video, but also anticipated by Salvini and Tajani by a few tens of minutes, a “substantial cut in excise duties is expected, which in the next few hours will transform into a reduction in the price of petrol and diesel”.
The approved measures
Thanks to the allocation of half a billion (around 500 million euros), the Council of Ministers confirmed the text, with approval and immediate entry into force, which implements various measures against the increase in fuel prices, which for days have reached and then exceeded the threshold of 2 euros per litre.
Among these:
- excise tax cuts of 24.91 cents for at least 20 days;
- strengthening of Mr-Prezzi’s inspection powers;
- sanctions against petrol stations and speculative suppliers;
- tax credits for hauliers and fishing vessels for three months.
Excise tax cut: 24.91 cents less
The most awaited is certainly the measure that cuts excise duties. Unlike the bonus hypothesis, which would have affected only the lowest incomes, the cut in excise duties benefits everyone. The decision translates into an effective drop in the price at the pump, equal to -24.91 cents starting from the morning of March 19th.
The objective is to return below the threshold of 2 euros per litre, but depending on the average increases this hope may not come true.
The effect is immediate:
- -24.91 cents per liter for petrol;
- -24.91 cents per liter for diesel;
- -12 cents per kilo for LPG.
It is possible to check prices directly from the website of the Ministry of Business and Made in Italy. Starting from 8:30 each day, the average prices are updated region by region.
