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Italian Diesel Hits Record as Government Prepares Short Excise Decree

A planned short emergency decree will partially sterilize fuel excises with a later accise mobili cut contingent on July VAT receipts.

Overview

  • The diesel price on the national road network has climbed to about €2.16–2.18 per litre, which several ministry datasets and outlets say equals or slightly exceeds the March 14, 2022 peak.
  • This weekend the rapid July rise accelerated costs for drivers, with local outliers in Milan above €2.60/l and some highway diesel stations over €2.70/l, raising warnings from consumer groups about a heavy summer spending hit.
  • Rome is drafting a short 'decreto ponte' to immediately sterilize part of the excise on fuels and target diesel more than petrol, but that measure would be temporary and modest in size compared with 2022 cuts.
  • A fuller re‑activation of the accise mobili mechanism is likely only after July’s extra‑VAT receipts are tallied, because the formula uses that extra VAT to finance per‑litre relief and therefore cannot be implemented instantly.
  • Policy options are constrained by limited fiscal room and EU rules, so any relief is expected to be smaller or delayed; markets and households should watch the early August decisions and weekly pump data for the real impact.