The Italian competition authority has closed an investigation into several major oil companies, including Eni, Esso, Ip, Q8, Saras, and Tamoil, after a whistleblower revealed that these companies coordinated to set the price of the bio component included in fuel prices.

The investigation found a restrictive agreement among the companies regarding the sale of automotive fuel, with the exception of Iplom and Repsol. As a result, the authority imposed fines totaling €936,659,087 on the companies involved.

Specifically, Eni was fined €336,214,660, Esso €129,363,561, Ip €163,669,804, Q8 €172,592,363, Saras €43,788,944, and Tamoil €91,029,755. The cartel operated from January 1, 2020, to June 30, 2023, during which the price of the bio component increased significantly from approximately €20/mc in 2019 to about €60/mc in 2023.

The authority noted that the companies implemented simultaneous price increases, largely coinciding with each other, facilitated by direct or indirect information exchanges among the firms. The cartel was further supported by the publication of specific bio component values in various articles by the industry newspaper Staffetta Quotidiana, with direct information provided by Eni to the publication.