The sharp increases in the cost of oil require a response from the executive, which is evaluating the implementation of “mobile excise duties”. Codacons warns: “At least 15 cents in cuts”
While the energy crisis triggered by Middle Eastern conflict shows no signs of abating, Petrol and gas prices are already rising sharply across the countryweighing on the portfolios of businesses and families.
To try to slow down the sharp increase in prices, the government is working on the so-called “mobile excise duties”, a fiscal mechanism that automatically reduces fuel taxes when the price of oil exceeds a set threshold.
Fuel on the rise
In fact, the effects at the pump of the great price increases of recent days were not long in coming. Unleaded petrol has exceeded 1.70 euros per liter in self-service mode, while diesel has significantly broken through 1.80 euros.
In some areas of Milan, green fuel has already well exceeded 2 euros per litre, while the most pessimistic forecasts indicate that petrol and diesel could rise above 2.50 euros on a national scale, with the concrete possibility of reaching 3 euros.
The burden on families is already significant. According to the estimates of Codaconsa household with two children will spend between 160 and 165 euros more per year on supplies alone, but the situation worsens if the increases in electricity and gas bills and the higher costs of the shopping trolley are added.
The overall burden estimated by Codacons varies between 614 and 818 euros per year per family. For companies the bill is even higher: every increase in fuel prices compresses margins, raises logistics costs and triggers pressure on price lists along the entire production chain.
The government prepares mobile excise duties
Faced with the emergency, the government has started a concrete reflection on the so-called “mobile excise duties”, a mechanism that allows taxation on fuel to be automatically lowered when the price of crude oil exceeds certain reference values.
The secretary of the Democratic Party Elly Schlein had re-proposed the tool, already introduced in 2023 by Meloni governmentand the proposal was welcomed both by Minister Giorgetti and by the Prime Minister herself.
Meloni, guest on Sunday evening of “Fuori dal Coro” on Rete 4, confirmed: «On petrol we are evaluating the mechanism of mobile excise dutiesit is also requested by the opposition, we have been studying the mechanism for a few days”.
The legal instrument already exists. Crude oil is above the threshold of 100 dollars a barrel and in Rome we are working on a possible decree to contain the impact of price increases on families and businesses.
Decree number 5 of 2023 simplified the rule of the 2008 budget law, which provides for the possibility for the MEF and the Mase to reduce excise duties on petrol and diesel when prices exceed the reference value of the latest programmatic document. A cut which, however, it is worth specifying, would probably stop at a few cents per litre.
That threshold is now largely exceeded. The mechanism aims to exploit the extra VAT revenue generated by the increases in petrol prices themselves to finance the discount at the pump, without burdening the budget. Codacons is asking for a cut of at least 15 cents per litre. However, truly activating the measure requires a legislative decree to be approved by the Council of Ministers.
The energy crisis is worsening
Let the price of Brent (reference value for Europe) that of Wti American have recorded strong increases, reaching peaks of over 110 dollars. Same thing for gas on the Amsterdam stock exchange, which exceeded 60 euros per Megawatt/hour.
To deal with the energy emergency, while the Strait of Hormuz remains closed to marine trafficthe finance ministers of G7 they held an emergency meeting to discuss a possible joint release of oil from reservescoordinated by the International Energy Agency.
In particular, we are considering the release of 300-400 million barrels, approximately 25-30% of the available reserves of the 32 IEA member countries, which together hold 1.2 billion barrels.
The move would stabilize energy markets in the short term, the anticipation alone was enough to bring oil prices down from their highs. However, without a rapid restoration of cross-Strait flows, the energy crisis is unlikely to be overcome.
