Meloni cuts diesel excise duty as oil price spike squeezes Italian households

Italy approved an emergency decree cutting diesel excise duty by 17 euro cents per litre.

The measure aims to ease pressure on households and businesses from rising fuel prices.

Global oil market volatility due to West Asia tensions is driving the price spike.

The tax cut combines lower excise taxes with VAT adjustments.

The temporary reduction will remain in force until August 6.