Italy Cuts Fuel Taxes to Offset Soaring Energy Costs (3)

Italy’s government approved a temporary cut to excise taxes on fuel in a bid to help citizens deal with higher costs caused by the conflict in the Middle East.

Prime Minister Giorgia Meloni said on Wednesday that her cabinet approved the €0.25 ($0.29) per liter reduction in fuel levies, part of a broader package of measures taken as an emergency backstop against soaring energy prices.

The measures are worth hundreds of millions of euros, her deputy Prime Minister Matteo Salvini said, and will be in place only for a limited period of time.

Fuel prices have shot up globally since ...