The decision

Eni will keep its price cap on petrol and diesel until the end of 2026, Chief Executive Claudio Descalzi said on Friday, 23 October, after a telephone conversation with several newspapers. A company spokesperson confirmed the position to ANSA. The caps currently stand at 2.25 euros per litre for diesel and 1.99 euros per litre for petrol, the levels set at the beginning of October. Descalzi said Eni would watch market and price trends, and the supplies its logistics network can handle, before setting the caps for the rest of the period.

“We confirm that we will maintain the price cap through the end of the year.”

How the measure works

The cap took effect on 28 September for an initial 30 days, with the option of extension to year end depending on market conditions and supply. Eni justified the step by a shrinking supply of refined products linked to geopolitical crises and by limited refining capacity in Europe, where almost 30 refineries have closed over the past 15 years. The initial thresholds were 1.99 euros for petrol and 2.19 euros for diesel, and the diesel level later rose to 2.25 euros after a 6-cent cut in the fiscal discount. The group acted at the request of the government led by Giorgia Meloni. Other operators, including IP, Q8 and Tamoil, followed, and independent stations and white pumps moved to align as well, although those smaller networks, which account for about half of fuel dispensed, criticised the move as a threat to their survival and to fair competition.

Earnings call and financial impact

On the third-quarter 2026 results call with analysts, Chief Transition & Financial Officer Francesco Gattei said the cap would be reassessed periodically. He described the decision as a response to customer needs.

“For this reason we decided to introduce a maximum cap on our sales of petrol and diesel.”

Gattei then put a figure on the cost of the measure.

“The impact in one quarter will be in the order of a few hundred million.”

Descalzi told Il Sole 24 Ore that the economic impact, counted from March and projected to year end, including containment policies and caps, would be around 700 million. The company reported third-quarter adjusted net profit of 2.8 billion euros and announced an extraordinary dividend and a larger share buyback.

Diesel cap2.25

Diesel Eni price (Descalzi)2.19

Petrol cap1.99

Diesel cap

2.25 EUR per litre

Diesel Eni price (Descalzi)

2.19 EUR per litre

Petrol cap

1.99 EUR per litre

Data from the article text

Pump supply and the market

Descalzi told La Repubblica that Eni reviews price trends every month, and that its own diesel prices had been 2.19 euros, below the 2.25 euro cap. He said more than 900 service stations had run out of stock despite being resupplied twice a day. International diesel quotations remain volatile and supply is persistently scarce, with petrol under slightly less pressure. Eni's stated aim is a threshold that avoids upsetting consumers or draining stocks at pumps.

Political reaction

Opposition leaders in the Senate wrote to Senate president Ignazio La Russa asking for urgent communications from Transport Minister Matteo Salvini. Francesco Boccia (Pd), Luca Pirondini (M5S), Peppe De Cristofaro (Avs) and Raffaella Paita (IV) said the decree the government had just approved did not offer an adequate response. They also criticised the way Salvini had handled the emergency. The letter links the request to a truck drivers' protest across southern Italy, which the senators say exposes a crisis that workers and businesses have long denounced. The request is separate from Eni's pricing decision, and no reply from the Senate president is reported.