SOCAR to cap fuel prices on Italiana Petroli's network (updated)

Eni SpA

27/09/2026 17:38

Adds comment from Italy's prime minister
ROME, Sept 27 (Reuters) - State Oil Company of Azerbaijan said on Sunday it would introduce caps on fuel prices across the Italian network of its subsidiary Italiana Petroli, after Italy's Eni ENI.MI announced a similar move on Friday.
SOCAR said the measure would be rolled out from Monday and would be "applied progressively", starting with Italiana Petroli-branded stations.
It said price levels would be set according to local market conditions but did not disclose the level or duration of the price caps.
The group said it was responding to the Italian government's appeal for energy companies to support families and businesses facing rising fuel prices.
Italian Prime Minister Giorgia Meloni thanked Azerbaijan and SOCAR for the move, saying it would "make a concrete contribution to curbing high fuel costs". 
Italian state-controlled energy group Eni said on Friday its Enilive unit would sell diesel at no more than €2.19 per litre and petrol at no more than €1.99 per litre for an initial 30 days from Monday.
Italiana Petroli's founders, the Brachetti-Peretti family, agreed to sell the oil refiner last September in a deal said to be worth around €3 billion ($3.42 billion).
($1 = 0.8779 euros)

 (Reporting by Giulia Segreti in Rome; Editing by Christina Fincher)
 ((Giulia.Segreti@tr.com; +39.06.80307714;))