MOSCOW, Russia: The Italian Council of Ministers has approved another bill to reduce excise taxes on motor fuel, extending current measures until May 21, according to the outcome of the meeting, reported Sputnik/RIA Novosti.
This is the third time such a decision has been made. However, this time the government has decided to reduce the size of the “discount” for petrol, while keeping it unchanged for diesel.
“We have taken a different approach than before. In recent weeks, there has been a significant disparity between the rise in diesel and petrol prices. Petrol prices rose by six per cent, while diesel prices grew by 24 per cent,” Italian Prime Minister, Giorgia Meloni, said at a press conference late on Thursday.
Prior to the March 11 cabinet meeting, at which a decision to reduce excise taxes was first approved, the price of diesel had reached €2.10 (USD2.40) per litre, while petrol was priced at €1.87.
As of Friday morning, average prices stood at €2.052 per litre for diesel and €1.746 per litre for petrol.
“This measure is intended to curb rising energy prices by temporarily reducing excise tax rates for an additional 21 days, on top of the measures already in place,” the government’s spokesman, Palazzo Chigi, said.
The reduction in the rate for diesel fuel remains unchanged at €0.20 per litre, while for petrol it will be €0.05 per litre, the statement added. – BERNAMA-SPUTNIK/RIA NOVOSTI
