With fuel costs climbing and the Easter travel season approaching, Greek Prime Minister Kyriakos Mitsotakis gathered his top economic officials Tuesday at the Maximos Mansion for an urgent review of how the ongoing Middle East conflict is rippling through domestic markets.
The meeting produced no new policy announcements, serving largely as a public signal that the government is paying attention as Greeks brace for higher prices at the pump and in supermarkets during one of the busiest travel and spending periods of the year.
Diesel relief starts Wednesday, gasoline to follow
The most concrete measure is a subsidy cutting the price of diesel by 20 euro cents per liter, set to take effect Wednesday. Close behind it is a revived “fuel pass” for gasoline — a direct subsidy mechanism Greece first deployed during the 2022 energy crisis triggered by Russia’s invasion of Ukraine — which officials said is expected to be activated within days. The fuel pass model credits registered vehicle owners and other eligible recipients with a fixed amount per liter, helping to offset pump prices without requiring retailers to formally lower them.
Inspections ramp up across food and fuel sectors
On the enforcement side, officials said hundreds of market inspections are being carried out daily to identify potential profiteering. In the food sector, more than 100 businesses have already been placed under scrutiny by Greece’s newly established Independent Market Oversight and Consumer Protection Authority, including wholesale meat traders, fruit and vegetable distributors, and food and beverage companies. The authority is examining whether these businesses are complying with regulated profit margin rules — a mechanism that caps how much goods can be marked up relative to their acquisition cost.
The inspections are expected to widen in scope in the coming weeks. Results from those currently underway are due in the near term and could shape any further government response.
Senior officials at the table
Tuesday’s session was attended by Deputy Prime Minister Kostis Hatzidakis, Economy and Finance Minister Kyriakos Pierrakakis, Development Minister Takis Theodorikakos, Secretary-General for Commerce Napoleon Maravegias, and the head of the Prime Minister’s Economic Office, Michalis Argyrou.
