Article
Italian Energy Giant Eni Caps Fuel Prices As Refining Crunch Drives Costs Higher
Italian Energy Giant Eni Caps Fuel Prices As Refining Crunch Drives Costs Higher
Authored by Charles Kennedy via OilPrice.com,
Italian energy major Eni will cap fuel prices at its Enilive service stations beginning September 28 as tighter refined-product supplies and reduced European refining capacity continue to put upward pressure on pump prices.
The company said diesel sold through Enilive will be capped at €2.19 per liter, while petrol will be limited to €1.99 per liter. Eni said the caps are roughly €0.17 per liter below current average price levels.
The measure will initially...
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Traders are waking this morning in the US to some relative market mayhem and questioning what came first - the oil spike or the geopolitical angst - to trigger these moves as it appears the market finally remembered there's more going on in the world than trading 'short compute' demand to the moon...
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