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Italy's Eni, Esso offices raided in antitrust probe over fuel price breaches

MILAN (Reuters) - Italy's antitrust authority said on Monday the offices of several oil companies, including Italy's Eni and Exxon Mobil Corp (NYSE:XOM)'s ESSO Italiana unit,...
Italy's Eni, Esso offices raided in antitrust probe over fuel price breaches © Reuters. FILE PHOTO: Eni's logo is seen in front of its headquarters in San Donato Milanese, near Milan, Italy, April 27, 2016. REUTERS/Stefano Rellandini
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MILAN (Reuters) - Italy's antitrust authority said on Monday the offices of several oil companies, including Italy's Eni and Exxon Mobil Corp (NYSE:XOM)'s ESSO Italiana unit, have been searched over alleged fuel price violations.

The authority, which carried out the inspections with the help of Italy's tax police, said it was probing irregularities concerning prices being charged at the pump which were higher than those advertised, as well failures in advertising fuel prices.

Eni, Esso, Italia Petroli, Kuwait Petroleum Italia and Tamoil allegedly failed to adopt appropriate measures "to prevent and counteract this unlawful conduct to the detriment of consumers," the competition watchdog said in a statement.

Eni had no immediate comment, while the other companies involved were not immediately available for a comment.

Fuel prices have taken centre stage in Italy after Prime Minister Giorgia Meloni's executive dropped a costly reduction in excise duties introduced by the previous government when the price of petrol exceeded 2 euros per litre.

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08-12-2023 20:18:34 (UTC+7)

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    EUR/USD 1.0773 ↑ Sell  
    GBP/USD 1.2575 ↑ Sell  
    USD/JPY 144.32 ↑ Sell  
    AUD/USD 0.6602 Neutral  
    USD/CAD 1.3569 ↑ Sell  
    EUR/JPY 155.48 ↑ Sell  
    EUR/CHF 0.9435 ↑ Sell  
    Gold 2,044.35 Neutral  
    Silver 24.087 Sell  
    Copper 3.8338 ↑ Buy  
    Crude Oil WTI 70.93 Neutral  
    Brent Oil 75.73 Sell  
    Natural Gas 2.577 ↑ Sell  
    US Coffee C 178.53 ↑ Sell  
    Euro Stoxx 50 4,494.95 Sell  
    S&P 500 4,585.59 ↑ Buy  
    DAX 16,665.88 ↑ Sell  
    FTSE 100 7,523.83 Neutral  
    Hang Seng 16,324.50 Sell  
    Small Cap 2000 1,868.25 ↑ Buy  
    IBEX 35 10,175.99 ↑ Buy  
    BASF 45.155 ↑ Sell  
    Bayer 31.59 Neutral  
    Allianz 242.50 ↑ Sell  
    Adidas 192.74 ↑ Sell  
    Lufthansa 8.423 Neutral  
    Siemens AG 161.97 ↑ Sell  
    Deutsche Bank AG 11.663 ↑ Buy  
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