ROME, Italy, March 12 – Fuel prices across Italy have experienced significant hikes in the wake of recent geopolitical events, with diesel and petrol costs soaring in major cities. Data compiled by Altroconsumo reveals that between February 25 and March 5, average diesel and petrol prices in Naples, Milan, Rome, and Turin increased by at least 3%, with some diesel prices nearing a 6% rise.
Sharp Increases Across Italian Cities
Petrol prices saw a 3-4% increase during the period. Milan recorded the highest rise at +4.1%, closely followed by Rome at +3.9%, with Naples experiencing a +3.3% increase, and Turin at +3.1%.
The surge in diesel prices was even more pronounced, with increases ranging from 5% to 6%. Rome led with the highest rise at +5.9%, followed by Milan (+5.5%), Naples (+5.2%), and Turin (+4.9%).
This rapid escalation in prices, which appears to be only loosely connected to actual resource scarcity, has ignited widespread protests among motorists. Drivers are accusing petrol station operators of price gouging, exploiting the situation at the expense of commuters who rely on their vehicles for daily travel.
Petrol Station Operators Defend Pricing
In response to the public outcry, the Italian Petrol Station Operators Federation (Faib) has displayed notices clarifying that individual station managers do not determine fuel prices. Vincenzo Nettis, President of Faib, expressed concern over the situation.
“The increase is real, but we display the price communicated to us by the oil companies,” Nettis stated. “We understand consumers’ protests, but they will not find those responsible for this situation within our category. We still earn 3.5 cents per liter; with higher prices, we sell less.”
Nettis outlined two crucial steps he believes are necessary: “Firstly, Prime Minister Giorgia Meloni must do what Mario Draghi did when the Russia-Ukraine war broke out, which is to cut excise duties by thirty cents. Secondly, if that is not possible, she could tax the extra profits that oil companies have made in the past.”
While definitive data on consumption changes are not yet available, Nettis anticipates a probable 10% drop in sales.
Economic Impact and Future Outlook
Giorgio Felici, President of Confartigianato Imprese Piemonte, broadened the perspective, warning of dire consequences if the conflict does not cease soon. “The ongoing tensions represent not only a human and social tragedy but also a concrete threat to global economic stability and our productive fabric of micro and small businesses,” Felici commented.
He added, “Even Piedmont, though geographically distant, risks severe repercussions on both the export front and energy costs.”
A study conducted by Confartigianato Imprese nationally last year ranked Piedmont second in Italy for export exposure to the Middle Eastern crisis, with sales in the region amounting to 2.09% of the regional added value (2.6 billion euros). Tuscany was ahead with 2.95% (3.1 billion euros).
The situation underscores the vulnerability of the Italian economy to international conflicts and the urgent need for measures to mitigate the impact on consumers and businesses.
