Fuel prices in Greece are continuing to rise, prompting increased inspections at gas stations as authorities seek to prevent excessive profit margins and protect consumers.
According to the latest data from the Fuel Price Observatory, the average price of 95-octane gasoline reached €1.94 per liter on March 17, reflecting a steady upward trend in recent days.
Other fuel prices have also climbed. Diesel now averages €1.916 per liter, 100-octane gasoline stands at €2.131 per liter, while heating oil is priced at €1.49 per liter. The price of autogas (LPG) remains lower, averaging €1.234 per liter.
Government caps spark industry backlash
The rising costs come amid growing tensions between the government and fuel station owners following the reintroduction of a profit margin cap on fuel sales.
The measure was introduced partly in response to geopolitical tensions and the war in Iran, which have increased volatility in global energy markets.
Fuel retailers argue that the policy is pushing the industry toward a financial crisis. The government has set the maximum gross margin at 12 cents per liter, but since the figure includes value-added tax (VAT), gas station owners say their actual profit is reduced to about 9.5 cents per liter.
Industry representatives say the cap leaves little room to cover operating costs.
“Fuel station owners cannot carry any more of the burden,” said Maria Zaga, president of the Attica Gas Station Owners Association, warning that a coordinated shutdown of gas stations remains a possibility.
Protests begin on Lesbos
The first protests are expected to take place on the island of Lesbos, where the local fuel retailers’ association has announced open-ended strike action starting Thursday, March 19.
Station owners on the island argue that the margin cap does not apply equally across the supply chain, particularly at the refinery level.
They are demanding either an increase in the profit cap to 20 cents per liter (including VAT) for islands in the northern Aegean or a return to the margin levels that were in place before February 27, 2026, prior to the latest geopolitical escalation.
Concerns over broader economic impact
As gasoline prices approach €2 per liter in major urban areas—and have already exceeded that level in some regional markets—concerns are spreading about the potential impact on transportation and the supply chain.
Industry figures warn that rising fuel costs could eventually push up prices for goods and food, affecting consumers across the country.
Fuel retailers also reject accusations of profiteering, pointing instead to taxation as the main factor behind high pump prices.
According to industry representatives, the government collects about €1.10 per liter through taxes, including VAT and excise duties, meaning that more than half of the final retail price goes to the state. They argue that meaningful relief for consumers would require reducing indirect fuel taxes rather than tightening profit margins.
