Rome: Italy’s antitrust regulator has delivered a landmark ruling against some of the country’s most powerful oil companies, imposing fines totaling €936 million for engaging in unfair competition and cartel-like practices. The decision marks one of the most significant interventions in Europe’s energy market in recent years, underscoring the growing pressure on energy firms to operate transparently in an era of rising fuel costs and climate transition.

The fines were the outcome of a detailed investigation spanning over three years, covering the period from January 2020 to June 2023. The probe revealed that six oil firms Eni, Q8, IP, Esso (ExxonMobil), Tamoil, and Saras engaged in collusion to manipulate the biofuel component in diesel pricing. This biofuel element, essential in calcul

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