Italy Cuts Fuel Tax by 25 Cents Per Liter for Twenty Days

Italy adopted a decree reducing gasoline and diesel prices by 25 cents per liter for twenty days, effective March 19, 2026. The text, described as a "temporary and emergency measure" by the Council of Ministers, also provides for a reduction of 12 cents per kilogram on liquefied petroleum gas (LPG). These provisions respond to a surge in crude oil prices of nearly 50% since end-February, linked to the blockade of the Strait of Hormuz, through which approximately one-fifth of the world's crude oil normally transits.