Italy Extends Fuel Tax Cut to July 3 to Stem Iran War Impact

Giorgia Meloni’s government has extended a fuel tax cut for consumers as the Italian premier attempts to blunt the impact of the Iran war on fuel prices and the economy overall.

The cut in excise duties was extended from Sunday until July 3, the finance ministry said. The latest decree cuts pump prices by €0.05 ($0.06) per liter for diesel, half the discount previously in place, while keeping it unchanged for unleaded fuel.

Meloni first introduced temporary tax cuts on fuels after the Iran war closed off the Strait of Hormuz, choking off supplies and sending prices up ...