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Fuel Prices in Italy: Taxes and Consumer Spending Soar in August 2023, Faib Confesercenti Reports

In August 2023, for a 50 liter tank of petrol Italians paid 11 euros more than the European average, an increase almost entirely due to the tax component. Assuming an average of 4 full tanks in the month, Italian consumers spent 388.2 euros, over 45 euros more than the European average, of which more than 44 euros in taxes. These are the data provided this morning in Rome by the Faib Confesercenti, the petrol station trade association, on the occasion of its assembly for the 60th anniversary of its foundation.

From January to July 2023, according to Faib data, the cost of fuel in Italy was higher than the European average by 22.4 euro cents per liter for petrol and 18.3 cents per liter for diesel, the highest high since 2018.

In the consumer price of petrol and diesel in the first seven months of 2023 in Italy, the international quotation weighs 32% for petrol and 35% for diesel (in 2021 the weight was 26.6% and 28%). The industrial revenue (gross margin of the company) and the gross revenue of the manager (equal to 3.5 euro cents, 1.9% of the price of petrol and 2% of that of diesel) together constitute between 10 and 11% of the final price. The tax burden (VAT and excise duty) accounts for 57% of the price of petrol and 53% of the price of diesel (it was 48% and 42% in 2022).

In August 2023, fuel prices in Italy increased by +9.5% (petrol) and +2.7% (diesel), compared to the same month in 2022. LPG fell by -11.5%. In the first 7 months of 2023, fuel consumption on the ordinary network grew, both for petrol (+431 million liters compared to the same period in 2022) and for diesel and LPG (+140 million and +21 million respectively). From January to July there was a decrease in wholesale sales (-8 million liters for petrol, -374 million for diesel).

Read the full article on ANSA.it
2023-09-27 12:56:00
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