Italy’s antitrust regulator has imposed fines exceeding €936 million ($1.09 billion) on six oil companies, including Eni and ExxonMobil-owned Esso, for operating a cartel that restricted fair competition in the country’s fuel market.
According to the regulator’s statement released on Friday, the companies colluded between January 2020 and June 2023 to set the price of the biofuel component in truck fuel sales.
This manipulation significantly increased the cost of the component, which rose from around €20 per cubic metre in 2019 to about €60 in 2023.
The fines were distributed as follows:
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Eni – €336 million
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Q8 – €173 million
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Ip – €164 million
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Esso – €129 million
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Tamoil – €91 million
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Saras – €44 million
The regulator described the case as the outcome of a “complex investigation” that was triggered by a whistleblower tip-off.
The body concluded that the coordinated pricing practices distorted market competition and undermined transparency in the biofuel sector.
The ruling underscores Italy’s increasing scrutiny of anti-competitive behavior in the energy industry, particularly in relation to renewable and biofuel markets.
By manipulating the biofuel component of truck fuel, the cartel distorted one of the most sensitive cost structures in the logistics and transport sector, affecting businesses reliant on stable energy prices.
Eni and Ip did not respond immediately to requests for comment. Reuters also reported it was unable to reach the other companies at the time of publication.
The fines represent one of the largest collective penalties handed down by the Italian competition authority in recent years and reflect broader European Union regulatory pressure on energy firms to ensure compliance with antitrust and fair competition standards.
