Italy announces measures to help with rising fuel cost

Italian Prime Minister Mario Draghi on Friday announced key measures to mitigate surging fuel, gas and electricity prices."Until the end of April the price of fuel at the gas station will be decreased by 25 cents," Draghi said.

"We will increase from 4 to 5.2 million the number of families who will be shielded from the bills increase and they will pay energy at the same price they paid last summer," he added.

Draghi explained that the funds to cut the fuel price and help families pay the skyrocketing bills will come from an additional taxation of the profits coming from the increased price of raw materials.