Energy prices surge as activists protest fuel costs in Rome

The Robin Hood Collective, an urban activist group, staged a protest in Rome by symbolically setting fuel price counters to zero at twenty different gas stations. The group targeted the Meloni government, criticizing the management of fuel excise taxes and the impact of international conflicts on energy costs.

This protest coincides with a significant surge in global energy markets. Brent crude oil has surpassed $107 per barrel, and European gas prices (TTF) have reached approximately €84 per megawatt-hour, the highest level since January 2023. These price hikes are driven largely by tensions in the Middle East, including attacks on Saudi infrastructure and disruptions in the Strait of Hormuz and Bab el-Mandeb.

The current market levels exceed the adverse scenarios previously projected by the European Central Bank. The International Energy Agency has also lowered its global crude oil supply estimates for 2026, raising concerns about the potential impact on inflation, interest rates, and broader economic growth.