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Italy's oil association, Unione Petrolifera, Monday said it estimates the country's energy bill to rise this year by 17% annually, and forecasts it will rise further in 2012.
Italy's 2011 energy bill is expected to climb by EUR8.9 billion from EUR61.9 billion last year, said Unione Petrolifera, adding it is the highest amount in nominal terms over the last 10 years. The association estimates that in 2012 it will rise EUR4.4 billion from the 2011 level.
Italy's 2011 oil bill is forecast to increases by EUR6.5 billion to EUR34.9 billion, said Petrolifera, and also the highest figure in the last decade.
-By Antonio Di Mambro, MF0DJ, and Liam Moloney, Dow Jones Newswires; +39 06 6976 6924; email@example.com