The forecast for total support on petroleum for fossil fuel production in Italy from 2024 to 2028 demonstrates a gradual decline. In 2023, the support stood at 61.25 million USD (constant 2020). The year-on-year reduction is expected to be approximately 1.6% as projected in 2024 and it continues decreasing annually. The 5-year compound annual growth rate (CAGR) is forecasted to be around -1.6%, reflecting a consistent drop due to potential policy shifts towards sustainability.
Future trends to monitor include policy advancements in renewable energy, potential economic shifts impacting government support, and global pressure for emission reductions which may further influence the fiscal landscape of fossil fuel subsidies in Italy.
