Accra:SOCAR has announced its decision to implement measures aimed at limiting increases in retail prices for gasoline and diesel fuel in Italy. The company made this announcement on September 27, 2026, in response to the ongoing challenges faced by the population and businesses due to high fuel prices.

According to Azeri-Press news agency, SOCAR is rolling out these measures in stages, starting with the network of filling stations operating under the Italiana Petroli (IP) brand. The decision aligns with the Italian government's call to support the population and business entities amid global supply chain instability.

The initiative also extends to filling stations under the Esso brand and other operators purchasing fuel from IP. SOCAR is keen on maintaining the continuity of the supply chain and distribution network, which comprises thousands of operators.

In addition to these measures, SOCAR announced on October 2, 2026, a targeted initiative to support Italy's agriculture and motorized fishing sectors. From October 5 to 31, IP is offering significant discounts on fuel prices for these sectors, with the possibility of extending this period. Both sectors are crucial to the national economy and contribute significantly to food security and the stability of supply chains in Italy.

Earlier this year, SOCAR completed the acquisition of a 99.82% stake in IP from API Holding. Italiana Petroli, a leading private market player since 1933, operates a vast network of 4,500 filling stations and two refineries with a refining capacity of approximately 10 million tons.