Fuel Prices in Italy Surge Dramatically As Tax Discount Expires
TEHRAN (Tasnim) – Gasoline and diesel prices in Italy have skyrocketed after a rebate on fuel-related excise levies expired.
According to data from the Italian Ministry of Environment and Energy Security, national average prices were 1.64 euros (1.74 US dollars) per liter for gasoline and 1.71 euros for diesel at self-service pumps during the week ending Dec. 31.
As tax discount expired, prices were 1.80 euros for gasoline and 1.87 euros for diesel respectively at self-service pumps, local media reported on Tuesday. These correspond to increases of 9.8 percent for gasoline and 9.4 percent for diesel over the span of just a few days, Xinhua reported.
In the first days of 2023, national prices for full-service gasoline stood at 1.95 euros per liter and 2.02 euros for diesel, local media reported.
The increase was due largely to the expiration of the discount on fuel excise tax, which was put in place in March 2022 to help combat a surge in fuel prices. The discount initially expired on Dec. 1 and was extended at a lower rate until the end of 2022, when it expired entirely.
