Rome, 20 June (LaPresse) – “In one month, oil prices have plummeted by almost 24 per cent, but for motorists, the benefits at the pump – partly due to the reduction in excise duty cuts – have been significantly lower, creating a disparity that weighs heavily on daily fuel costs.” This is according to Codacons, which stated in a press release that it is “ready to take legal action to protect Italian motorists”. “On 20 May, Brent crude – the benchmark for the European market – closed at around $105 per barrel, whilst today prices stand at around $80, representing a sharp drop of -23.8%,” Codacons analysed. Over the same period, the average price of diesel at the pump fell from 1.980 to 1.937 euros per litre, a drop of just 2.2 per cent, a figure which is, however, also affected by the government’s decision to reduce the tax rebate on diesel, whilst the average price of petrol fell from 1.961 to 1.841 euros per litre over the course of a month, a drop of 6.1%”. “Although oil is not the only factor affecting final prices at the pump, there is clearly an imbalance currently affecting fuel prices, which, as usual, rise at lightning speed when crude oil prices increase, but fall far too slowly when oil prices drop,” states the consumers’ association.
Fuel prices, Codacons: “Oil down 23.8% in a month, but only a 2.2% drop for motorists”
Rome, 20 June (LaPresse) – “In one month, oil prices have plummeted by almost 24 per cent, but for motorists, the benefits at the pump – partly due to the reduction in excise duty cuts – have been significantly lower, creating a disparity that weighs heavily on daily fuel costs.” This is according to Codacons, which stated in a press release that it is “ready to take legal action to protect Italian motorists”. “On 20 May, Brent crude – the benchmark for the European market – closed at around $105 per barrel, whilst today prices stand at around $80, representing a sharp drop of -23.8%,” Codacons analysed. Over the same period, the average price of diesel at the pump fell from 1.980 to 1.937 euros per litre, a drop of just 2.2 per cent, a figure which is, however, also affected by the government’s decision to reduce the tax rebate on diesel, whilst the average price of petrol fell from 1.961 to 1.841 euros per litre over the course of a month, a drop of 6.1%”. “Although oil is not the only factor affecting final prices at the pump, there is clearly an imbalance currently affecting fuel prices, which, as usual, rise at lightning speed when crude oil prices increase, but fall far too slowly when oil prices drop,” states the consumers’ association.
