The Italian government has introduced a decree aimed at monitoring fuel prices for a duration of two months. The initiative includes oversight from key authorities such as the Garante per la sorveglianza dei prezzi, commonly known as 'Mister Prezzi', who will continuously analyze fuel prices at the pump against international benchmarks like Platts. This measure comes in response to concerns over sudden and unjustified price hikes in the fuel market.

To complement the supervisory role, the Guardia di Finanza will conduct thorough accounting verifications if rapid price increases are detected. This inquiry will not only target fuel distributors but will trace back up the supply chain to include oil companies, scrutinizing costs from crude oil to refined products in relation to final consumer prices. Additionally, during this three-month period, oil companies must submit daily recommended selling prices to the Ministry of Enterprises and Made in Italy (Mimit), with penalties for non-compliance that could amount to 0.1% of their turnover.

The findings from this monitoring exercise will eventually be forwarded to the Antitrust Authority for further investigation if necessary. This decree represents a significant step by the Italian government to ensure price stability in the fuel sector and protect consumers from exploitative practices, highlighting the ongoing challenges faced amidst fluctuating global oil prices.