Home » Business » Impact of Fuel Price Increases on Holiday Costs in Italy

Impact of Fuel Price Increases on Holiday Costs in Italy

Milan, 1 August 2023 – I fuel prices have skyrocketed and will have a considerable impact on the budgets that families have allocated to the item “holidays”. To sound the alarm is also an analysis of Other consumption from which it emerges that between 1 June and 26 July 2023, on the motorway, the average daily price of petrol increased by 2.8%, while diesel increased by 2.5%.

The impact of increases on the cost of holidays The Altroconsumo analysis clearly shows that from the beginning of June until the first half of July 2023 fuel prices grew in a limited way, and in all Italian regions there was an alternation of days with rising prices followed by rebates. The general increase instead became more marked from the second half of July.

The situation in different areas of the country In Lombardy, on the ordinary road network, at the beginning of June the average value for the price per liter of petrol was 1.812 euros, against 1.885 on 26 July 2023. More than 7 cents per liter more in a few weeks, i.e. an increase percentage of 4%. The situation worsens if motorways are taken into consideration: the average price of petrol on 1st June last was equal to 1.9 euros per liter (in relation to the “self” mode), while after about two months the average 26 July 2023 is equal to 1.954 euro per litre, with an increase of 2.8%. The price of diesel is also on the rise. In Lazio, for example, at the beginning of June the average value for diesel was equal to 1.65 euros per litre, while at the end of July the average price was equal to 1.726 euros per litre, with a growth of 4.6% . As regards the situation on the motorways, the average price of diesel in “self” mode went from 1.769 euros per liter on 1st June to 1.813 euros per liter on 26th July. The increase, in this case, is approximately 2.5%.

The increases and future prospects The increases are intended to weigh on the cost of holidays for Italians who choose to travel by car. In the meantime, from 1 August 2023, the rule that imposes the obligation to publish the average regional prices at the plants enters into force. Federico Cavallo, External Relations Manager of Altroconsumo he said: “The effectiveness of this new measure will only be seen in the next few weeks, even if to date some doubts remain about whether it can alone cope with the price increases which are nothing new and which will probably continue, in a framework ever-changing and very uncertain international market. To prevent the effects from having further repercussions on households, already greatly affected by inflation, and on other production chains and categories of goods, it is therefore necessary to intervene urgently and in a structural manner on components that weigh heavily on the formation of the final price: first of all the taxation applied and transparency along the entire supply chain. Ok, therefore, to the general principle of giving more information to consumers but be careful not to consider this a panacea, placing the burden of coping with their own resources – economic and time – at the bottom of the chain and, ultimately, on individuals increases that are generalized on the territory. Finally, in our opinion, much attention should be paid to the risk of dragging upwards more competitive prices, i.e. those that are below the regional and national averages, which would lead, also expressed by the AGCM, to a paradoxical decrease in the possibilities savings for citizens. Like Altroconsumo, we will therefore continue to monitor the situation, at the same time asking for more incisive interventions by the Government, which also start from a greater confrontation with consumers”.

2023-08-01 17:07:03
#Fuel #prices #affect #cost #holidays

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.