Politics · Greece
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Greek Prime Minister Kyriakos Mitsotakis announced on July 10, 2026, a temporary reduction in fuel prices intended to alleviate the financial burden on consumers during the summer. This measure includes a decrease of €0.10 per liter for gasoline and €0.05 per liter for diesel and will remain in effect until the end of August. The reduction is the result of a deal between the government and local oil refiners, including Motor Oil and Helleniq Energy, who are contributing €40 million towards this initiative.
The announcement comes amidst rising international oil prices, influenced by geopolitical tensions, specifically the renewed conflict between the U.S. and Iran. Mitsotakis emphasized that the government's decision aims to address the recent upward pressure on fuel costs that had seen prices surpass €2 per liter. The implementation details of this price cut are expected to be finalized and announced shortly, as the government seeks to support consumers during the peak summer travel period.
However, some analysts have expressed skepticism about the measure's potential impact, suggesting that high taxes might diminish the effectiveness of the reductions. Nonetheless, the government asserts that this intervention is timely and necessary given the current economic circumstances surrounding fuel costs.
13 July
New government intervention announced to address fuel price issues.
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