Italy seeks refiners' help to boost domestic fuel production in bid to ease prices

By Reuters News

- 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.

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 ENI.MI, Saras and Innovhub on October 8, according to a statement.

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.

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.

Despite her efforts, both petrol and diesel prices remain above the key €2 ceiling, data from the industry ministry showed.

($1 = 0.8788 euros)

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