Italy’s Antitrust Authority has fined six oil firms more than €936 million for operating a fuel cartel. The companies are Eni, Esso, Ip, Iplom, Q8, Saras and Tamoil. Investigators said they coordinated fuel price rises through information exchanges. The cartel lasted from January 2020 until June 2023.
The case began with a whistleblower complaint in July 2023. The authority then opened a formal investigation. It found that the companies raised the bio-component price in parallel, often within days of each other. The bio-component is required by law in motor fuel.
The watchdog said the collusion inflated costs for consumers. It estimated the effect at around €2 billion. The scheme relied on both direct contacts and indirect exchanges via industry publications.
Eni received the largest fine, €336 million. Q8 was fined €173 million, Ip €164 million, and Esso €129 million. Tamoil must pay €91 million, while Saras received the lowest fine at €44 million.
The authority stressed that the case involved deliberate coordination. It said the price movements could not be explained by normal market conditions.
Eni rejected the decision. It said the findings misread legitimate market behaviour and ignored external pricing pressures. The company confirmed it will contest the fine. The other firms have not yet issued statements. Appeals are expected, as such cases often face lengthy court battles.
The Antitrust Authority highlighted the role of whistleblowers in uncovering the cartel. It said protecting market transparency remains a top priority.
The fines are among the highest imposed in Italy in recent years. The case underlines the regulator’s willingness to act against collusion in the energy sector.
