Italy plans decree to tackle fuel costs, Ilva measures included

The Italian government is set to convene a council of ministers to approve an emergency decree aimed at mitigating the impact of soaring fuel prices, with a particular focus on diesel costs. This intervention has been under consideration for several days.

The proposed decree-law is expected to directly address the price of gasoil. Following this, the government plans a second intervention using the "accisa mobile" mechanism, which adjusts excise duties, in light of July's VAT revenue data. Sources indicate that an increase in cigarette taxes is among the options being considered to offset the anticipated reduction in fuel excise duties.

However, reports suggest there is an ongoing debate within the government regarding the advisability of utilizing these funds. A final decision on the matter is anticipated during the council of ministers meeting. In addition to the fuel price measures, the decree-law is also understood to contain provisions related to the extraordinary administration of the Ilva steel plant.

The official agenda for the meeting lists "urgent provisions regarding oil prices connected to the further crisis in international markets and regarding Ilva S.p.A. in extraordinary administration" as the sole item for discussion. The meeting is scheduled to take place at Palazzo Chigi.