The Italian Competition Authority (Autorità Garante della Concorrenza e del Mercato – AGCM) has imposed fines totaling more than €936 million on some of the country’s leading oil companies, including Eni, Esso, IP, Q8, Saras and Tamoil, for participating in a cartel that restricted competition in the automotive fuel market.
The investigation, launched after a whistleblower report, revealed that the companies coordinated their pricing strategy by jointly determining the value of the “bio” component included in fuel prices. This component, introduced by the companies in order to comply with biofuel obligations under national law, increased in value from approximately €20 per cubic meter in 2019 to around €60 per cubic meter in 2023. The cartel was found to have begun on 1 January 2020 and to have lasted until 30 June 2023.
According to the Authority, the oil companies engaged in simultaneous and coordinated price increases, which were largely aligned and facilitated through direct and indirect exchanges of commercially sensitive information. The practice was further supported by the systematic publication of the bio component’s value in the specialized trade outlet Staffetta Quotidiana, often on the basis of information provided directly by Eni.
At the conclusion of its extensive proceedings, the AGCM imposed significant financial penalties: Eni was fined €336,214,660, Esso €129,363,561, IP €163,669,804, Q8 €172,592,363, Saras €43,788,944, and Tamoil €91,029,755. By contrast, Iplom and Repsol, which had also been investigated, were excluded from liability.
The decision highlights the determination of the Italian Competition Authority to pursue and sanction collusive practices in strategic sectors, particularly where they distort consumer prices and undermine compliance with environmental regulations.
