Details on the government’s fuel price reduction measure are expected to be announced early this week, according to Deputy Prime Minister Costas Hatzidakis. Speaking to SKAI TV, Hatzidakis confirmed that only a few procedural matters remain to be resolved — with finalization anticipated within the next day or two — paving the way for implementation in the coming days.
What the Measure Includes
The initiative will apply to regular unleaded gasoline (95 octane) and diesel for road vehicles, offering a temporary discount of:
- 10 cents per litre on 95-octane unleaded gasoline
- 5 cents per litre on diesel
The discount does not extend to premium 100-octane gasoline. The measure is set to run until the end of August, aiming to ease the financial burden on drivers during peak summer travel demand.
Why the Intervention Was Introduced
Hatzidakis explained that the decision followed recent developments in global energy markets. Although the Brent crude oil price eased after de-escalation in the Middle East, retail fuel prices in Greece did not follow suit. He attributed this to damage sustained by refineries in the Gulf region and reduced diesel exports from Russia — both of which have kept fuel production costs elevated.
How It Will Work in Practice
The deputy prime minister clarified that the discounts reflect the difference between actual pump prices and what they would otherwise be without the intervention — meaning the benefit to consumers may vary depending on international price movements. If global prices rise before the measure takes effect, the final discount at the pump will be proportionally smaller. Conversely, if international prices fall further, the benefit to drivers will increase.
Funding and Implementation
The measure is fully funded by Greece’s two domestic refineries — Helleniq Energy and Motor Oil — following an agreement that secured a €40 million contribution. No public funds from the state budget will be used.
What Drivers Stand to Gain
Based on current average prices, the cut would bring regular 95-octane gasoline down from roughly €1.965 to €1.865 per litre, and diesel from around €1.80 to €1.75 per litre. For a driver filling a 50-litre tank, that translates to savings of €5 per fill-up on gasoline and €2.50 on diesel.