Starting Tuesday, 14 July 2026, and running through the end of August, Motor Oil — Greece’s largest refining and fuel distribution company — is offering an emergency discount of 10 cents per litre on unleaded gasoline and 5 cents per litre on diesel fuel. The move, coordinated with Greece’s refineries, aims to ease the financial pressure on consumers and businesses amid rising fuel prices.
A Response to Global Market Volatility
In a formal announcement, Motor Oil attributed the measure to “unpredictable and significant international disruptions” in global fuel markets, as well as asymmetric market reactions that are straining both households and commercial fuel users. As a company deeply integrated into international markets — with at least two-thirds of its activities tied to global trade — Motor Oil said it feels a responsibility to support the domestic economy, aligning its action with measures already announced by the Greek government.
Why Pump Prices Don’t Adjust Immediately
Many consumers have questioned why falling crude oil prices on international markets don’t translate instantly into lower retail fuel prices. The answer lies in how fuel pricing is structured in Greece.
Retail fuel prices do not depend solely on the Brent crude benchmark. Instead, they’re primarily based on international spot prices for refined products (as reported by Platts), the euro–US dollar exchange rate, and the refineries’ pricing mechanism — which uses a rolling average of previous days’ international prices. As a result, both price increases and decreases from global markets reach Greek service stations with a time lag.