SOCAR has introduced a price ceiling for petrol and diesel across the Italiana Petroli (IP) network. Following its acquisition of the Italian group last May, the Azerbaijani state energy company is addressing surging fuel costs by limiting what filling stations can charge.
The measure will be implemented gradually, beginning with the IP-branded network. SOCAR has not yet disclosed the exact maximum price at the pump, stating in a Sunday release that the cap level will reflect varying operational needs and the economic sustainability of the supply chain.
The company also intends to explore extending the mechanism to Esso-branded stations and other operators that purchase fuel from IP and redistribute it under their own brands.
Pressure on prices and company action
SOCAR’s intervention follows severe pressure on pump prices. The Ministry for Business and Made in Italy (MIMIT) publishes daily national averages, while individual station prices are tracked through the Fuel Prices Observatory.
Diesel is especially affected, with costs continuing to rise due to energy market tensions and supply chain disruptions.
SOCAR is not alone in announcing price measures: ENI has also introduced a cap on its own network, as the government urges operators to help mitigate the impact of high fuel costs on households and businesses.
SOCAR’s move is notable because it comes months after acquiring IP, signalling one of the first steps in the Azerbaijani group’s strategy for the Italian market.
Italian Foreign Minister Antonio Tajani praised SOCAR’s decision to set a price ceiling, noting that he had urged the company to act on prices in early September.
SOCAR, Azerbaijan’s state oil company
SOCAR is the State Oil Company of the Republic of Azerbaijan, the country’s state-owned oil firm. The group operates across the energy chain, from production and refining to logistics and marketing.
Its Italian presence expanded in 2026 with the acquisition of Italiana Petroli, owner of the IP network. The deal was completed on 8 May, when SOCAR acquired 99.82 per cent of IP’s share capital from API Holding.
IP maintains a widespread presence across Italy, operating an integrated system covering refining, storage, and distribution. SOCAR’s entry has brought one of Italy’s major fuel retail networks under Azerbaijani control.
Fuel prices on 27 September
The announcement comes as fuel prices remain elevated. According to the latest data from the Fuel Prices Observatory of MIMIT, on Sunday 27 September the national average self-service price on the road network was 2.159 euros per litre for petrol and 2.377 euros for diesel.
On motorways the averages rise to 2.254 euros per litre for petrol and 2.459 euros for diesel. MIMIT calculates national averages daily based on retailer-reported prices.
The diesel figure is particularly striking: motorway prices are nearing 2.50 euros per litre.
The price cap will start on the IP network
The new mechanism will initially apply to IP-branded stations. SOCAR says it aims to support operators and network managers while maintaining balance across the supply chain.
The Azerbaijani company explains that the maximum price will be determined by varying needs, with the goal of ensuring supply chain continuity and supporting households and businesses during periods of high prices.
The firm will later assess extending the system to Esso stations and other operators sourcing fuel from IP, potentially covering a broader network than IP-branded sites alone.
SOCAR and its relationship with Italy
The price intervention coincides with SOCAR deepening ties with Italy beyond energy.
The Azerbaijani company has formalised a strategic partnership with the Italian Football Federation (FIGC).
The decision to cap petrol and diesel prices across the IP network “confirms SOCAR’s closeness to Italy,” the company stated, “at a time when the Azerbaijani group is formalising a strategic partnership with the Italian Football Federation (FIGC), becoming the global energy partner of the men’s and women’s national football teams from 1 January 2027 to 31 December 2030, with the possibility of an extension for a further two years.”
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