In Italy, large gas station chains have begun to limit prices for gasoline and diesel
In Italy, since September 28, price limits for gasoline and diesel have come into effect at large chains of gas stations. Eni has set specific maximum prices, and Italiana Petroli, owned by Azerbaijan's Socar, has also begun to contain fuel prices in its network.
Corriere della Sera reports this. The introduction of the price limit has also been officially confirmed by Eni.
In the Eni and Enilive network, gasoline will cost no more than 1.99 euros per liter, and diesel - 2.19 euros. This is about 17 euro cents per liter below the average price level that prevailed before the restriction was introduced.
For a car with a 50-liter tank, this difference means savings of approximately 8.5 euros on one full refueling.
The price limit will initially be in effect for 30 days. Eni allows its extension until the end of the year depending on the market situation and fuel availability. The company stated that it will maintain the established maximum prices even if international oil quotations continue to rise.
The Eni and Enilive network has about 3.8 thousand gas stations with approximately 21.7 thousand refueling points in Italy. According to Corriere della Sera's estimate, after other operators join in, reduced or contained prices may be in effect at approximately 40% of the country's gas stations.
Following Eni, a similar step was taken by Italiana Petroli, which was acquired in May by Azerbaijan's state oil company Socar. However, IP's mechanism differs: the company does not set a single fixed maximum price, but undertakes to contain the cost of gasoline and diesel depending on the market situation.
Initially, the new IP mechanism will apply to approximately 2 thousand of its own gas stations. In total, about 4.6 thousand stations operate under the company's brand in Italy. In the future, Socar is considering the possibility of extending the model also to other IP gas stations, stations under the Esso brand, and operators that purchase fuel from the company.
Eni explains the decision by the sharp rise in the cost of petroleum products due to geopolitical crises, a reduction in their supply, and a shortage of refining capacity in Europe. According to the company, nearly 30 refineries have closed in Europe over the past 15 years.
For Eni itself, the program may be expensive. According to Corriere della Sera's calculations, the company sells about 600 million liters of gasoline and diesel through its retail network monthly. At a difference of approximately 17 cents per liter, the economic effect of the price limit could amount to about 100 million euros in just the first 30 days.
Earlier, "Kurs Ukrainy" wrote that the Italian authorities considered additional support measures for the population due to the sharp rise in fuel prices.
Sources: Corriere della Sera, Eni
