The government’s fourth decree on excise duty cuts is about to expire. And once again, the issue of financial coverage re-emerges. So far, approximately 1.6-1.7 billion have been put into play, but the total bill could even exceed 2 billion euros. The bottom of the barrel, explains La Stampa in today’s edition, has been scraped on several occasions, with repeated cuts to transfers to ministries and the use of resources from Antitrust sanctions and ETS certificates linked to CO2 emissions. In this context, the many interventions would have already brought over 400 million with the first decree, 500 million with the second, another 400 million with the third, and 300 million with the fourth package.
Fuel excise duty cut: what’s happening
The search for new resources is therefore intertwined with the issue of the VAT surplus, already used in recent months to finance a portion of fuel discounts. Yesterday, many were awaiting a new package of measures from the Council of Ministers. Estimates spoke of an additional 500 million euros, but then no decision was made in that direction. The Minister of Economy Giancarlo Giorgetti, according to what emerged from political discussions, maintains a cautious attitude. The day after tomorrow, the fourth decree relating to reductions (5 cents less on petrol and 10 cents on diesel) expires. And the head of the Mef wants to understand how many resources are actually available before deciding how to proceed.
Meanwhile, prices…
Meanwhile, during question time, Giorgetti reiterated that the government will intervene again through the “mobile excise duty” mechanism, as has already happened previously. The indicated approach is that a passage in the Council of Ministers would not be necessary, but the issuance of a new ministerial decree would suffice. Meanwhile, on the price front, according to the Mimit Price Observatory’s surveys, self-service petrol along the national road network is still below the psychological threshold of 2 euros per liter (about 1.930 euros per liter yesterday, slightly down compared to Wednesday), while diesel is just under 2 euros (1.988 compared to 1.994 on Wednesday).
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