«In recent days, since early July, there have been upward trends in gasoline and diesel prices. For this reason, the government moved quickly to address the issue, in consultation with the refineries. The refineries responded and agreed to contribute to the effort. They have therefore committed to providing the government with 20 million euros each—Helleniq Energy and Motor Oil—for a total of 40 million euros. The government will use this contribution to reduce the price of regular unleaded gasoline by 10 leptes per liter and the price of diesel fuel by 5 cents, at no cost to the budget.».
This was stated by the Deputy Prime Minister, Kostis Hatzidakis, in an interview today on ERT News, elaborating on the relevant announcements made by Prime Minister Kyriakos Mitsotakis earlier today in Parliament.
Kostis Hatzidakis explained that the 10-lept reduction in gasoline and the 5-lept reduction in diesel are calculated based on current (Friday, July 10) price levels. It is well known that retail prices fluctuate daily, depending on changes in international prices for the respective products (gasoline and diesel) and the euro/dollar exchange rate. This means that if international prices rise before the measure takes effect next week, the difference from current prices will be correspondingly limited. Conversely, if international prices fall, the reduction will be greater, and consumers will enjoy an additional benefit. «In any case,» the Deputy Prime Minister emphasized, «consumers should know that they will pay a price 10 leptas lower for gasoline and 5 leptas lower for diesel than they would have paid had the government not intervened in cooperation with the refineries.».
The technical details for implementing the measure will be finalized in consultation with the Ministry of Finance and the refineries and will be announced next week so that the reduction can be implemented as soon as possible.
The Deputy Prime Minister also emphasized that, following the stabilization of the international market in the wake of the agreement reached in the Middle East, retail prices have also fallen. This is something anyone can easily verify, he added, by visiting the Ministry of Development’s website, fuelprices.gr, where international prices, refinery prices, wholesale prices from distributors to gas stations, and retail prices by region and by gas station.
However, recent developments—such as the increase in global demand for transportation fuels due to tourism, the ban on diesel exports from Russia, and the inability to immediately repair the damage sustained by refineries in the Middle East have once again led to upward trends in the international market. «So we decided that, rather than waiting, we would act immediately to keep prices in check,» Kostis Hatzidakis explained in closing.
