The government has reached an agreement with refiners Motor Oil and Helleniq Energy to reduce fuel prices through the end of August, following recent upward pressure on gasoline and diesel costs.
Speaking to state broadcaster ERT, Deputy Prime Minister Kostis Hatzidakis said fuel prices had shown rising trends since the beginning of July, prompting the government to act in coordination with the country’s refineries.
According to Hatzidakis, Motor Oil and Helleniq Energy each committed €20 million, for a total of €40 million, to support the measure. The funds will be used so that, starting next week and continuing through the end of August, the price of regular unleaded gasoline will be reduced by 10 euro cents per liter and diesel by 5 euro cents per liter, without fiscal cost.
Hatzidakis said the reductions are calculated against current price levels. Because retail fuel prices fluctuate daily based on international fuel markets and the euro-dollar exchange rate, the final effect may vary depending on market movements before implementation.
Technical details will be finalized with the Finance Ministry and the refineries and announced next week.
