Italy Plans Refinery Talks to Increase Fuel Production and Lower Prices
Government Initiatives to Address Fuel Prices and Production
Upcoming Meeting with Refiners
ROME, Sept 25 (Reuters) - Italy's government will meet with the country's refiners next month to consider ways to boost domestic fuel production as part of efforts to soften prices amid global supply disruptions, the industry ministry said on Friday.
Key Participants
Industry and energy ministers Adolfo Urso and Gilberto Pichetto Fratin will meet representatives from Algeria's Sonatrach, Socar-IP, Iplom, KPI, Alma Petroli, Ludoil, state-controlled Eni, Saras and Innovhub on October 8, according to a statement.
Objectives of the Meeting
The meeting will consider how domestic refineries can increase production of key products to mitigate the effects of the current international situation on the country's supply.
Government Measures to Control Fuel Prices
Financial Support for Fuel Excise Cuts
Under pressure to shield families and firms from the impact of rising energy costs ahead of a general election due in 2027, Prime Minister Giorgia Meloni has spent almost €3 billion ($3.41 billion) this year to fund temporary cuts to fuel excise duties.
Current Price Situation
Despite her efforts, both petrol and diesel prices remain above the key €2 ceiling, data from the industry ministry showed.
($1 = 0.8788 euros)
(Reporting by Giuseppe Fonte; Editing by Kirsten Donovan)
