Italy’s competition watchdog has imposed a massive €936 million ($1.1 billion) penalty on six major oil companies, accusing them of colluding to distort fuel prices.

The authority said Italian energy giant Eni, along with Esso, Ip, Q8, Saras, and Tamoil, coordinated their pricing practices by fixing the value of the biofuel component that feeds into overall pump prices. Regulators argued this practice limited fair competition in the market and unfairly burdened consumers.

The ruling underscores Europe’s tougher stance on corporate price-fixing across key industries, with Italy joining other EU regulators in cracking down on anti-competitive behavior in the energy sector.

The fine marks one of the largest antitrust penalties handed down in Italy in recent years, signaling stronger oversight in a market already sensitive to high fuel costs.