Greece has successfully cushioned domestic fuel prices from the worst of the Middle East conflict's impact, but Europe faces looming supply disruptions in diesel and aviation fuel that could force flight reductions and push ticket prices higher, Deputy Environment and Energy Minister Nikos Tsafos has warned.
Speaking on Parapolitika 90.1 FM, Mr. Tsafos said targeted government subsidies have driven unleaded petrol down to €2.03 per liter and diesel nearly 17 cents lower to €1.95 per liter.
He attributed Greece's relative resilience to its export-oriented domestic refineries, which produce enough to cover national demand without heavy reliance on Middle Eastern imports.
The picture for Europe as a whole is more exposed.
Mr. Tsafos said the continent depends significantly on Middle Eastern sources for diesel and aviation fuel — supply chains now severely disrupted by the regional conflict. European airlines may soon be forced to cut flights and raise fares as the market struggles to rebalance.
Greece's electricity market has also held steady, with wholesale prices stabilizing at €93 per megawatt-hour — roughly in line with a year ago — supported by the country's rapidly expanding renewable energy capacity.
Mr. Tsafos described the global fuel market as currently in a "wait-and-see" phase and left the door open for further state intervention if conditions deteriorate, while acknowledging the fiscal constraints imposed by EU rules.
Greece has already introduced diesel subsidies of 20 cents per liter and relaunched a fuel pass for petrol consumers ahead of Easter, as the government seeks to contain cost-of-living pressures amid persistent global price volatility.