The Italian government has finally broken its silence on the fate of fuel discounts that had been left hanging during the Ferragosto holiday. In a cabinet meeting that lasted just 15 minutes, a key decision was made: the price cut for diesel will be extended until September 5. However, there's a catch—the subsidy for premium petrol will not be extended at all.
This decision is not without reason. Petrol prices in Italy have already surpassed the symbolic i2 per liter mark for several days. This prompted the government to prioritize diesel, which is still slightly cheaper, though it still stings consumers. The extension only covers a 17-cent per liter reduction, which is estimated to cost up to i130 million.
Interestingly, the funding for this extension no longer relies on the usual budget. Instead, the government is introducing a new mechanism called a "tax advance," which shifts the burden to major energy companies like Eni and Enel. These two energy giants, controlled by the Treasury, are expected to be the first to contribute, given their revenues last year exceeded i20 billion.
The scheme is simple: these companies are asked to pay an advance of 39% of their income taxes, and in return, they receive a tax credit. This move comes after discussions with the parties involved and targets companies operating across various sectors, from extraction and refining to distribution and marketing of oil and natural gas.
Despite this, the decision still leaves many questions unanswered. The extension, which only lasts until September 5, is considered too short to quell the rising fuel prices. The government is reportedly preparing additional, more targeted measures, such as income-based subsidies or a petrol bonus delivered through paychecks. The idea of using the "Dedicata a te" social card has apparently been shelved.
For Italians, this news may come as a slight relief, especially for those who rely on diesel vehicles for daily mobility. However, with fuel prices still high and policy uncertainty ahead, the question remains: how long can the government continue to cushion this blow? What's clear is that they will keep looking for ways to balance public needs with fiscal health.
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