HELLENiQ ENERGY has implemented an emergency discount on gasoline and diesel fuel effective today, 14 July 2026, and running through 31 August 2026. The measure—introduced following a formal recommendation by the Greek government—reduces prices by 7.95 cents per litre (pre-VAT) for unleaded 95-octane gasoline and by 4.05 cents per litre (pre-VAT) for diesel fuel. The discount will appear as a separate line item on invoices issued to fuel retailers.
Direct Support for Domestic Consumers
The initiative is led by ELLENIC PETROLEUM S.A., HELLENiQ ENERGY’s subsidiary responsible for supplying fuels to the domestic market and international customers. The company has committed €20 million to finance this direct, temporary price reduction—targeting only fuels destined for consumption within Greece, including standard unleaded 95 and diesel.
HELLENiQ ENERGY emphasized that the move aims to temporarily stabilize fuel market operations amid challenging conditions. It described the summer period as especially critical for the Greek economy—and for households facing rising mobility costs—due to both seasonal demand and escalating geopolitical tensions in the Gulf region.
Market Context: Supply Constraints and Global Uncertainty
The discount comes as European fuel markets face heightened pressure. Strong seasonal and tourism-driven demand coincides with global refining capacity shortages—particularly acute across the Mediterranean region. These constraints have decoupled refined product prices from crude oil benchmarks, pushing them to unusually high levels.
International conditions are further aggravating the situation. A significant share of global refining capacity remains offline. Two overlapping crises are intensifying volatility: first, renewed hostilities between Iran and the U.S. in the Middle East—including disruptions at the Strait of Hormuz and delays in repairing damaged refineries; second, drone attacks on Russian refineries, prompting Moscow to announce—among other measures—a temporary halt to some fuel exports.