The Italian government has approved a temporary reduction in indirect taxes on fuel in an attempt to help residents cope with the cost increase caused by the Iran war. Prime Minister Giorgia Meloni stated that her cabinet of ministers approved a reduction in fuel taxes by 0.25 euros (0.29 dollars) per liter, as part of a broader package of emergency measures to counter rising energy prices. In turn, Deputy Prime Minister Matteo Salvini stated that "the cost of these measures will amount to hundreds of millions of euros, and they will remain in effect for a limited period only." While the Italian government is reducing taxes, it is asking oil companies to set fuel prices, with a maximum of 1.9 euros per liter of diesel, according to Salvini. Italy, like other governments, is reviewing alternatives to quickly help consumers overcome the shock of sudden price increases. Salvini also indicated that the government may also consider imposing taxes on the additional profits that energy companies make from selling fuel at higher prices. He said, "I hope we won't have to reach this stage," noting that talks with energy company officials will continue in the coming weeks. The average price of diesel at self-service stations on Italy's national road network was 2.1 euros per liter, while the price of gasoline was 1.87 euros, according to Italy's Ministry of Industry. Italian authorities have intensified monitoring of energy supply chains amid concerns about potential speculation.
