Fitch cuts its short-term gas price estimates, both for the Amsterdam TTF and for the US price list (Henry Hub). On the other hand, forecasts for crude oil remained unchanged. A decision that “reflects the drop in gas demand in Europe due to lower industrial consumption, the ample supplies of liquefied natural gas (LNG) and the start of the winter season milder than usual”. As for crude oil, analysts report a “moderation in prices” due to lower economic growth, destined to “reduce demand in the short term”. Furthermore, an “easing of international tensions” will lead to “a further drop in prices in the long run”.
Urso: picture of lights and shadows, gas price rose in November
However, there is an economic picture made up of lights and shadows, because tensions remain on the margins of businesses, and the price of gas went up again in November» highlights the Minister of Enterprise and Made in Italy, Adolfo Urso, audited by the X Commission of the Chamber, Joint Commissions for Productive Activities of the Chamber and Senate, on the programmatic lines of his dicastery and on the Government’s space and aerospace policy.
More expensive petrol and diesel, fewer cuts on excise duties
After nine months, the excise duties on petrol, diesel and LPG go back up and fuel costs 12 cents more per litre. Here’s what happens. In March, shortly after the Russian invasion of Ukraine, the Draghi government had decided to alleviate the energy costs of Italians through a discount on the tax incentive that weighs on fuel. However, on November 23, a decree from the Meloni government halved the discount and the state recovered 10 cents more per litre. Added to the 22% VAT (the usual hated tax on the tax), the total increase is 12.2 cents.
Codacons: with price increases, inflation warning
«Fuel prices are rising as a result of the cut in the discount on excise duties which began on December 1st. This confirms the alarm: with the increase there are risks for inflation» is the alarm launched by Codacons. «We had foreseen an immediate increase in the prices of fuel at the pump as a consequence of the increase in they prove us right – explains the president of Codacons Carlo Rienzi – today a full tank costs an average of 6.1 euros more than in November with an increase in spending of +146 euros per year per family, but the heavier effects of the measure adopted by the government they will make themselves felt on retail prices. The increases in fuel prices will in fact cause cascading price increases for goods and services in the coming months, with repercussions on the already skyrocketing inflation rate».