Fuel price increase, Mitsotakis announces a €300 million relief plan: Immediate reduction of 20 cents per liter

The Greek government announced a new package of measures to cope with the ongoing rise in fuel prices, a result of tensions and the war in the Middle East.

In a televised message, Prime Minister Kyriakos Mitsotakis announced four interventions on fuel prices for April and May, with a total cost of around €300 million, aimed at protecting families and the economy from the wave of price increases.

The main measure is a subsidy on fuel for vehicles of 16 cents per liter at distribution points, which translates to roughly a 20-cent reduction in the final price including VAT.

In parallel, as was done at the start of the war in Ukraine, the Digital Fuel Card will also be provided, which can be used at fuel stations, for public transport, and for taxis, to ease the financial burden on citizens from rising gasoline prices.

According to the government, the average support reaches about 36 cents per liter. For a typical consumption of 70 liters per month, this amounts to roughly €50 over two months on the Greek mainland and €60 on the islands, where transport costs are higher.

The package also includes support for the agricultural sector, with a 15% subsidy on the cost of chemical fertilizers, as well as compensation for maritime transport companies, provided they offer discounts on travel tickets to keep prices at last year’s levels.

The government emphasizes that the funds will come from the state budget and from taxation of online gaming operators’ profits, while reserving additional resources in case the global economic situation worsens.

Details on the implementation of the measures are expected to be clarified at a press conference by the Minister of National Economy and Finance and the relevant Deputy Minister around 13:30 today, with authorities highlighting that the goal is to stabilize prices and protect citizens’ purchasing power during a period of international uncertainty.

“KORÇA BOOM”