Six oil companies operating in Italy, of which ENI received almost one billion euros in total for having agreed for three years on the price of bioethanol integrated into fuels, the Italian competition authority announced on Friday.
ENI, ESSO, IP, IPLOM, Q8, Saras and Tamoil were sanctioned up to 937 million euros, including 336 million for the ENI giant. According to the authority, companies have implemented contextual price increases, largely coincident, determined by direct or indirect information of information among interested companies.
From January 2020 to June 2023
The agreement began on January 1, 2020 and continued until June 30, 2023. The value of this important fuel price component increased around 20 euros/m3 in 2019 to around 60 euros/m3 in 2023. The agreement was facilitated by the communication of the bioethanol value in many articles published in the “newspaper of the sector of the sector”, according to the AGCM.
Source: BFM TV
