In 2023, Italy's tax expenditure on fossil fuels for consumers was not provided, but 2024 forecasts estimate 8.09 Billion USD. By 2028, a slight decline is expected, reaching 7.93 Billion USD, marking a steady downward trend. From 2024 to 2028, annual tax expenditure decreases at an average rate of approximately -0.5% year-on-year.
Future trends to watch are:
- Policy shifts towards renewable energy sources which could further impact fossil fuel tax expenditures.
- Global energy market dynamics affecting fossil fuel consumption and pricing.
- Government efforts to meet climate-related goals potentially accelerating the decline in fossil fuel usage.