the new inflation alarm goes off – Corriere.it

In the summer, the number of motorists who hit the road to reach their holiday destinations grows and they have to deal with the new fuel price increases. Istat confirmed that, thanks to the drop in energy prices, June inflation recorded a clear deceleration, settling at 6.4% on an annual basis and at 5.6% in the month. Contrary to the energy goods price index, whose variation on an annual basis literally collapsed last month, from +11.5% to +2.1%, the price lists of petrol and diesel are once again growing and almost 2 euros per litre.

The prices of the self-service mode

According to the Quotidiano Energia observatory, managed by the Ministry of Transport, on the national network in the latest survey the average price of petrol in self-service mode was 1.865 euros per liter (against 1.860 in the previous one), with the various brands between 1.855 and 1.879 euros per liter and in “no logo” dispensers, i.e. not linked to certain companies, at 1.848 euros per liter. Instead, as far as diesel is concerned, the average price in self-service mode is 1.712 euros per liter (compared to the previous 1.704), with individual companies ranging between 1.696 and 1.726 euros and no logos at 1.695 euros per litre.

Mode served at 2 euros

Analyzing the mode served, the average price of petrol reached 2 euros per liter (compared to 1.996 in the previous survey) with plants offering prices between 1.939 and 2.079 euros per liter (no logo 1.900). The cost for the diesel served stands at 1.852 euros per liter (against 1.845), with the companies’ points of sale they offer prices between 1.786 and 1.930 euros per litre (no logo 1,749). Finally, the prices of LPG are positioned between 0.715 and 0.737 euros per liter (no logo 0.696) and those of methane for cars between 1.421 and 1.491 (no logo 1.441 euros per litre).

The reasons for the increase

There are several elements that contribute to the increase in the cost of fuel. First of all, the price of oil, which rose again in July: despite having reached higher peaks, there is talk of an average of 80 dollars a barrel for Brent and about 75 dollars for Wti. Added to this is the announcement made in June by the OPEC+ countries (the main exporters in the world) on an upcoming cut in crude oil production: specifically, since July Saudi Arabia – which is the most influential country and the largest producer in the organization – has cut one million barrels a day. The aim is to improve market stability and avoid a fluctuating price trend.

Inflation

The risk that the new increase in fuel prices could generate a new rise in inflation. In June, the so-called “shopping cart”, i.e. the set of food and home and personal care products, held back above all: the figure of 10.5%, still very high but slightly decreasing compared to the previous survey. The risk that values ​​will rise again, since the transport and distribution of most of the goods found on the shelves of Italian shops and supermarkets takes place by road and, therefore, the price increases at the distributor could have a pervasive effect on the general inflation.