Italy fines Eni, oil firms €936M for fuel collusion

Italy’s antitrust regulator has imposed fines exceeding €936 million ($1.1 billion) on six major energy companies, including Eni, for colluding to restrict competition in the fuel market.

The Italian Competition Authority announced on Friday that Eni, Esso, Ip, Q8, Saras, and Tamoil coordinated on the value of the biofuel component used in calculating pump prices. Officials said this practice artificially aligned fuel pricing across the market, reducing fair competition.

Eni, Italy’s largest energy group, received the largest penalty, though the authority did not disclose the breakdown of fines per company. The ruling marks one of the heaviest sanctions in recent years against the country’s fuel sector.

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According to the regulator’s statement, the companies “coordinated to set the value of the bio component factored into fuel prices,” thereby breaching Italian and EU competition rules. The decision followed a multi-year investigation into pricing practices in the downstream fuel market.

The watchdog said the collusion harmed both consumers and the broader economy, as inflated fuel prices added pressure on households and businesses during a period of high energy costs.

Eni and the other sanctioned companies have not yet issued detailed public responses, though they are expected to appeal the ruling in Italy’s administrative courts.

The case highlights growing scrutiny of fuel pricing practices across Europe, as regulators aim to ensure transparency and fairness in energy markets.