Prime Minister Kyriakos Mitsotakis has said that the government will unveil a package of measures next week to prevent heating oil prices from opening the winter season near €2 a liter, aiming instead to keep the starting price below €1.75.
In an interview with state broadcaster ERT, Mr. Mitsotakis said the measures will include support from both the government and Greek refineries, along with an across-the-board increase in the heating subsidy and a cap on profit margins for fuel trading companies and gas stations. "If we do nothing, heating oil will open at €2.
That's not acceptable," he said, noting prices closed around €1.75 in April. He said support would also extend to diesel starting in October, while no decision has yet been made on gasoline.
Mr. Mitsotakis attributed the pressure on prices to a volatile global economic environment compounding post-pandemic price increases and bond market turbulence, arguing Greece remains comparatively insulated, borrowing more cheaply than the United States, France and Italy and maintaining secure energy supplies.
Asked about cutting the special consumption tax on fuel, Mr. Mitsotakis said Greece's budget cannot absorb such a cut but that the government would pursue it if the European Union granted special authorization, limited strictly to the duration of the current crisis.
Mr. Mitsotakis added that Greece's response alone would not be sufficient, calling for a broader European intervention given the scale of the crisis, while saying "there are many options" still under consideration at the EU level.