The government is stepping in to hold down fuel prices after reaching an agreement with the country’s refineries, which have set aside 40 million euros to absorb part of the cost increases.
According to the Government Spokesperson Pavlos Marinakis, the measure brings an immediate cut of 10 cents per liter on unleaded gasoline and 5 cents on diesel, in effect until the end of August. Marinakis described the situation on international markets as “unprecedented,” and said the government is monitoring developments for any further steps that may be needed.
What Prime Minister Mitsotakis said about the fuel price cut
“There is no doubt, ladies and gentlemen, that the recent rise in inflation is due almost entirely to the increase in energy prices, specifically the rise in crude oil prices, which also pulled up the prices of both gasoline and diesel. This government responded when the war broke out in Iran. We decided to cover part of the price of diesel at the pump, 20 cents at first and then 15 cents, along with 15% of the cost of fertilizers.
This is substantial support for both consumers and producers, on top of the fuel pass we already provided. About 2,500,000 drivers dealt with rising gasoline prices while benefiting from the fuel pass, worth around 36 cents for the period it was given,” he said.
“After the crisis in the Gulf, several refineries in the wider region were destroyed. This created new pressure on both gasoline and diesel prices. Because of both reduced production and seasonal demand, the government, in coordination with Greece’s two refineries, is responding to this challenge. The refineries have committed to contributing financially to supporting Greek society over the coming months, so we will see a reduction of 10 cents per liter on gasoline and 5 cents on diesel until the end of August. Details on implementation will be announced next week,” the Prime Minister added.
