Southern Europe in September 2026: the most important developments in economy
In Southern Europe in September 2026, high fuel prices dominated the economy, above all in Italy. On September 25 the energy company Eni set price caps of 1.99 euros per litre for petrol and 2.19 euros for diesel at its Italian stations, and the fuel company IP followed on September 27 and 28, with Q8 announcing a cap on September 29. The move drew long queues and sold-out pumps in many cities, while the average fuel price fell only slightly. Prime Minister Giorgia Meloni thanked the companies, the opposition and union leader Landini criticised the government, saying a real strategy was needed rather than publicity stunts, and small fuel retailers protested. The government had approved an extension of the fuel tax cut and measures to speed up oil and gas projects on September 10 and 11, and was pressing refineries to raise output. It also scrapped the annual ownership tax on smaller cars and all motorcycles, announced on September 16 and 17. On September 29 and 30 Eni cut household electricity and gas bills by 30 percent, and rivals said their prices were already lower. Diesel in Portugal reached a record high and Spain introduced a new discount on the fuel.
Energy policy shifted in other ways. On September 23 Italy's Senate gave final approval to a bill clearing the way for new nuclear power plants, ending a ban in place since the 1980s. Spain prepared a ban on imports of Russian liquefied natural gas. Eni and Chevron signed oil agreements with Venezuela's PDVSA on September 2, including Eni's operation of the Junin-5 field. Qatar extended force majeure notices on LNG deliveries to Edison.
Other economic news was mixed. Greece and Italy signed a 460 million euro agreement for two FREMM frigates, Greece's inflation rose to 3.8 percent, and Athens airport proceeded with a 950 million euro expansion. Italian start-up Exein raised 270 million dollars, and Lottomatica agreed to merge with Spain's Cirsa. Inditex missed profit expectations, Spain's imports grew twice as fast as its exports, and Spain reached 1,000 days without a new budget. Cyprus faced a lower growth outlook from its central bank, which cited the Middle East conflict.
by WorldBrief & Maksim Micheliov | AI-generated summary
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