Il petrol and diesel prices they will drop by 30,5 cents per liter for 30 days starting today, Tuesday 22 March. The discount will then be valid until April 20th. This is the consequence of the cut in excise duties (-25 cents, to which must be added 22% VAT) envisaged by the law decree approved by the Government last week with urgent measures to counter the economic and humanitarian effects of the war in Ukraine. The provision enters into force today and the measures adopted are worth a total of 4,4 billion euros.
The discount on the price of LPG
For LPG, excise duties decrease instead by 8,5 cents: adding the VAT, we arrive at consumption at 10,37 cents.
Petrol and diesel prices: what will happen after April 20th
As mentioned, the discount will end from 20 April: however, it is expected that until 31 December 2022 the rates of these taxes can be redetermined without having to resort to a decree law, but only to a ministerial provision
The levy of 10% on the extra profits of energy companies
To find financial coverage – given that the prime minister, Mario Draghi, is determined not to further increase the deficit this year – the government has introduced a 10% levy on the extra profits of energy companies.
On whom the levy on extra profits applies
It will apply only this year, will be paid in June and will have to be paid by the entire energy sector chain: by the companies that produce, import and sell oil products, gas or electricity. Only companies that manage trading platforms are excluded.
How to calculate the levy on extra profits
The levy on extra profits will be calculated on the increase in the balance between transactions for VAT purposes between two periods: 2021st October 30 - 2022th March 2020 and 31st October 2021 - XNUMXst March XNUMX. A specific law prohibits companies from transferring the charge on prices to consumption.
The measure should make it possible to finance the discount on petrol and diesel prices without further budget slippages, but, obviously, the business world did not like it.
The criticisms of Confindustria
A few hours before the go-ahead for the decree, Confindustria had released a note in which it defined the provision as "disappointing, because it does not structurally solve the problem of energy price increases". The business association also argues that the extra profit rule could be unconstitutional.
Assopetroli and Assoenergia threaten the mobilization
The position of Assopetroli and Assoenergia is even tougher: the associations that bring together the companies that distribute and store fuels have underlined that, with the cut in excise duties, the fuels already stored with the old excise tax will be sold with the reduction and therefore "will suffer a very strong devaluation compared to the book value", with "enormous damage to the distribution sector", which - if there is no compensation - threatens a mobilization.
Price of petrol and diesel: anti-speculation measures
The decree also provides for rules on product storage deposits and to avoid speculative manoeuvres, with powers for the Price Guarantor and the use of the Guardia di Finanza for checks.
Tax-free petrol vouchers
Finally, the decree detaxes petrol vouchers of up to 200 euros that employers will give to their employees.
