-- Italy may extend its cuts to fuel excise duties past its May 1 deadline to help families and businesses in the country better cope with rising energy prices, according to a Reuters report.
Italian Prime Minister Georgia Meloni said, "We are assessing a further extension, which might be shorter than the previous ones," while also calling for more lenient European Union budgeting rules.
The country has so far spent nearly 700 million euros ($819.09 million) on excise duty cuts for petrol and diesel, for just over 40 days until May 1, in response to the military conflict in Iran that has driven up energy prices and created oil and gas shortages.
Meloni pointed to the EU's "National Escape Clause," which gives member states room to temporarily breach deficit limits during periods of economic stress or when ramping up defense spending, while noting that capping energy prices was the "top priority" for her government.
has reached out to the Italian office of the Prime Minister seeking comment.