The government's new panel tasked with preventing the fallout of the Iran war from being used to impose speculative price hikes met for the first time at the Business and Made in Italy Ministry on Thursday.

The panel features the 'Mr.

Prezzi' price-monitoring ombudsman, the Finance Police and the Antitrust Authority.

Thursday's meeting was convened by Business and Made in Italy Minister Adolfo Urso.

The panel has already started monitoring the fuel distribution network after the government cut fuel duties by 25 cents for 20 days in response to increases in petrol and diesel prices.