Italy to see increase in gas coupon prices

[unhappycamper]

Italy to see increase in gas coupon prices
By Sandra Jontz, Stars and Stripes
European edition, saturday, March 29, 2008

NAPLES, Italy — Gas coupons for U.S. motorists in Italy will increase by 7 percent — about 27 cents a gallon — in April because of a boost in crude oil prices and the devaluation of the U.S. dollar against the euro, a Navy official said Friday.

A 100-liter book of unleaded gas coupons will jump from $101 to $108 on Tuesday, which translates to $4.08 a gallon. The cost of a 100-liter book of diesel coupons will increase to $111 from $118, or $4.46 a gallon, said Bart Di Muccio, administrator of the Tax-Free Office in Naples.

Fuel coupon prices did not increase in March, despite soaring barrel prices and plummeting dollar value, Di Muccio said.

According to his calculations, the total increase of barrel prices since February was more than 10 percent, and the drop of the dollar-to-euro was more than 11 percent.

Each month the Tax-Free Office sets prices for fuel coupons by calculating changes in the barrel price of fuel, fluctuations in the currency exchange rate between the U.S. dollar and the euro, and any gains or losses the Navy Exchange and the Army and Air Force Exchange Service incurred in the previous month’s sales.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=53679

[Clear Blue Sky]

1. At least they have diesel vehicles over there. Helps a little bit.