SOCAR is introducing a cap on petrol and diesel prices across the Italiana Petroli (IP) network. The Azerbaijani state energy company, which took control of the Italian group last May, has decided to tackle soaring fuel costs by setting a limit on the prices charged by filling stations.
The mechanism will be rolled out gradually, starting with the IP-branded network. SOCAR has not yet specified what the maximum price at the pump will be: in a statement released on Sunday it explains that the level of the cap will be set taking into account different needs and the economic sustainability of the supply chain.
