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Expensive gasoline and diesel, the government is now preying on speculators: but the price race depends on the stop of tax breaks adopted in the maneuver

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After a week of silence over the unrenewed discount, Meloni and Giorgetti announce a meeting with the commander of the Guardia di Finanza to draw out the mean ones. Urso talks about unreasonable promotions, while Salvini comments: “Someone is taking advantage of this.” If we take into account the fall in oil prices that has continued since November (-20%) and the impact of the tax increase adopted by the Palazzo Chigi, we get exactly the current prices. Except in specific cases, the rise in prices does not appear to be related to the behavior of retailers, but the government is unloading the barrel on alleged speculation.

You don’t have to bypass it. beating motorists comes from the treasury. Whatever the government says the maximum rise in the price of gasoline and diesel fuel depends solely or almost on the abolition of the reduction of excises by decision of the executive branch headed by Georgia Meloni. And just count to understand it. After days of silence while price lists in some cases have risen to 2.5 euros per litre, the government has nevertheless begun to list a lamppost instead of the moon.

The Prime Minister and the Minister of Economy will be at the Palazzo Chigi on Tuesday. Giancarlo Giorgetti will meet with the Commander-in-Chief of the Financial Guard, Joseph Zafarana, “to take stock and evaluate any possible further action to counter the speculation on fuel prices,” the government said in a statement. “The increase is unreasonablewe will improve control,” says al Corriere della Sera Adolfo Urso, Minister for Enterprise and Made in Italy. “As a government, there will be a cabinet meeting on Tuesday and we will discuss whether there will be between war, expensive materials and expensive raw materials it’s time to intervene and there is money to intervene,” the Minister of Transport from Brescia resumes work. Matthew Salvini. “I am glad that there are continuous checks, because in this case, as in the case of gas and electricity, someone is using it, because you cannot pay 1.70 euros in one city and 2.30 euros in another for the same product. Properly check and check.”

Perhaps there are individual cases when gas station employees made every effort and “got smarter”, but in general this accusation looks unreasonable. Let’s see why. The cost of gasoline today on average and by mode of transport self-service1.965 euros per litre. Diesel 2.023 euros. It’s been a few months since diesel has overtaken green, this is one of the international dynamics which goes beyond the specific Italian situation. Diesel fuel has one multiple jobs (for example, it also powers agricultural and industrial equipment) that gasoline does not have and is more directly affected by Consequences of the war in Ukraine. However, since the beginning of November last year, the price of oil (from which both gasoline and diesel are obtained) decreased by about 20% drop from $100 to $80 per barrel. A decline that affects the industrial component of fuel prices. Two months ago, gasoline cost 1.688 euros per liter, diesel – 1.836 euros.

In the meantime, however, the Meloni government decides to cancel in two stages the tax credit introduced by the government. dragons in March 2022. Tax cuts worth it 30 euro cents, to which are added 4 cents less VAT (which is also calculated on excises). In general, motorists save money 34 cents per liter. However, on December 11, the discount is reduced by 10 cents, from January 1, 2023. completely reset. If we add to the prices the newly introduced 34 cents levy at the beginning of November, we see that the cost of gasoline rises to 2.028 cents per liter, diesel fuel – to 2.028 cents per liter. 2.276 euros, higher than the average values ​​recorded today by distributors. Let’s not forget, however, that the price of oil fell by 20%, and that’s exactly what happened. the industrial cost of the two fuels. For diesel fuel, the industrial value is approx. 1.1 euro. A drop of 20% means a decrease in value of about 20 cents. Subtracting from the value that diesel would have reached, adding the increase in the tax levy to the values ​​at the beginning of November, one obtains more or less current prices. Spaces for “speculation” against which Financial Guard and even resurrected “Mr Price” in short, except, we repeat, there are few specific cases.

The tax deduction is definitely worth a lot just under one billion euros per month. In fact, every year the government collects about twenty billion euros from excise taxes on fuel, and the intervention of the Draghi government cut that income in half. Thus, the level of tax collection in Italy fell (to 39% for diesel fuel) below the average for the euro area (42%). However, higher countries such as Spain or Portugal. High charging for gasoline and diesel in itself may also have environmental motives, but Italy is currently facing particularly damaging inflation. Unlike what is happening in many eurozone countries, the cost of living does not want to fall and remains above 11%. The cost of fuel, and therefore the cost of transporting any goods, is one of the factors that most contributes to the spread of price increases to all types of products.

Palazzo Chigi has repeatedly criticized the European Central Bank and its monetary policy. Since last July ECB actually raises interest rates with its main goal is the cooling of prices. It is curious that critical remarks to the doctor come from the patient with the highest temperature.

Source: II Fatto Quotidiano

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