The Greek government introduced emergency measures to cap profit margins on fuel and essential goods in an effort to prevent price gouging amid international market turbulence.
The measures will take effect immediately through a legislative act expected to be published in the Government Gazette and will remain in force until 30 June. They apply to industry, supermarkets, fuel trading companies and petrol stations, while authorities will also intensify market inspections.
Kostis Hatzidakis said the government was moving quickly to ensure the measures take immediate effect.
“The government will not tolerate price gouging,” he said, adding that regulatory authorities would act swiftly and decisively to enforce the rules.
Hatzidakis also said the government was responding seriously to the crisis in the Persian Gulf but stressed that Greece faces no risk of supply shortages. He noted that the country is not dependent on energy supplies passing through the Strait of Hormuz.
Fuel profit margins limited
Stavros Papastavrou said the escalating tensions in the Middle East have created uncertainty that directly affects citizens’ daily lives.
Under the new rules, fuel trading companies cannot impose profit margins exceeding five cents per litre for petrol and diesel, while petrol stations cannot exceed 12 cents per litre in the final retail price.
Special provisions will apply to island regions, where higher transport costs may justify different limits through ministerial decisions.
Papastavrou added that Greece has strengthened its energy resilience, noting that more than 50% of electricity generation now comes from renewable energy sources, while energy storage systems using batteries are expanding and hydroelectric output has increased due to higher rainfall.
Profit caps on essential goods
Takis Theodorikakos said global uncertainty is placing additional pressure on supply chains and contributing to inflation, particularly for basic goods.
He noted that authorities have already conducted around 1,500 inspections at petrol stations.
The new legislative act also introduces profit caps on essential consumer goods and food products. According to Theodorikakos, no product will be allowed to be sold with a higher profit margin than the one recorded in 2025.
The measure will remain in place until 30 June, when authorities will reassess which products will continue to be subject to the restrictions.
Heavy fines for violations
Fines for violations can reach €5 million and will apply to wholesalers, supermarkets, industry and distribution companies.
“It is a strict measure, but current conditions make it necessary,” Theodorikakos said, urging businesses to demonstrate social responsibility.
“Profit is legitimate. Price gouging is not,” he added, while calling on the opposition and independent regulatory authorities to support the enforcement of the measures.
