when and by how much petrol and diesel will increase

when and by how much petrol and diesel will increase
when and by how much petrol and diesel will increase
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The decree law n. 179 of 23 November 2022 which contains the new provisions launched by the government “on the subject of excise duties on certain fuels”. From 1 December, the “discount” on petrol and diesel introduced by the previous executive to deal with price increases will drop from 30.5 cents to 18.3 cents (VAT included), with an increase in the net price of 12.2 cents for each liter of fuel.

What does the decree provide?

Going into detail, the decree establishes that the excise duty on petrol will rise from the current 478.4 euros per thousand liters to 578.4 euros with an increase of 100 euros per thousand litres, or 10 cents per litre. To these 10 cents must then be added VAT, equal to 22%: for motorists, therefore, the increase will be 12.2 cents per litre, obviously net of any changes in the rates decided by the companies operating on the network.

As far as diesel is concerned, the excise duty will rise from 367.4 euros to 467.4 euros, but the story remains the same: the increase for those going to fill up will be 12.2 cents. For LPG, the cost of excise duties will instead go from 182.61 euros per 1,000 kg to 216.67, with an increase of 34.06 euros, or about 3.4 cents per liter (excluding VAT).

The government has already clarified that the reduction of excise duties will not affect hauliers “who can count on other preferential regimes”. A measure the latter taken to avoid repercussions also on the price of the goods transported, avoiding new increases for consumers.

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That of the executive was a painful decision which obviously cost a lot of criticism from the majority. However, it is true that the discount on excise duties launched last March by Draghi has already cost 5.1 billion euros according to data updated to 18 November. It is therefore a measure that has a heavy impact on the state coffers and from which all income groups benefit (it could not be otherwise).

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The article is in Italian

Tags: petrol diesel increase

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