Oil Giants Rush to Help Italy’s Meloni Curb Energy Costs with Fuel Price Caps
Kuwait energy firm Q8 will introduce a price cap on Italian petrol pump prices for one month starting from October 1st, it said on Tuesday, following similar commitments by Italy’s Eni. The moves have been interpreted by market analysts as a bid to curry favour with the Rome government and deter it from imposing a windfall tax on energy company profits, something proposed by Economy Minister Giancarlo Giorgetti and other leading politicians. Q8 Italy said in a statement its cap was designed to generate “tangible benefits” for motorists, but did not specify what price it would set. Italy’s National Consumers Union welcomed Q8’s move, saying that around half of Italy’s network of pump stations would now be imposing a price cap.
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