The price of oil could reach up to 3 euros per liter in the coming months if tensions in the Middle East and the situation in the Strait of Hormuz continue. The warning comes from Michele Marsiglia, president of FederPetroli Italia, who considers the situation worrying.
According to him, the growth is not expected to be immediate, but such a scenario could materialize within a few months if the crisis does not calm down.
Meanwhile, Brent crude oil has climbed to around $92-93 per barrel, while gas is trading at around €63/MWh.
The price hike has also alarmed small businesses, which say fuel costs are hurting profits. Business organizations are calling on the government to take additional fiscal measures to curb costs.
Meanwhile, Codacons is demanding that the tax reduction be extended to gasoline, as its prices have increased significantly.
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According to the Observatory on Italian Public Accounts, increases in the price of crude oil are reflected much more quickly to the consumer than decreases, with around two-thirds of the increase being passed on to the pump price within three days.
In Italy, self-service gasoline on highways costs an average of 2,178 euros/liter, while on the national network it costs 1,997 euros/liter. Diesel costs an average of 2,107 euros/liter.