Greece Caps Heating Oil Below €1.75, Expands Subsidies

Prime Minister Kyriakos Mitsotakis pledged that heating oil prices will open below €1.75 per litre this season, down from the April closing level, through a joint government and refiner support package. Details of the intervention, including a profit-margin cap for traders and retailers, are expected early next week.

The government will also raise the heating allowance horizontally so that all households benefit regardless of fuel type, and extend the diesel subsidy for the entire month of October. State Minister Akis Skertsos confirmed the measures will be formally announced on Monday.

“If we do nothing, heating oil will open at €2. That is not acceptable.”

Deputy Minister Thanos Kontogeorgis signalled broader winter relief with "greater interventions" backed by fiscal reserves, while ruling out changes to unemployment benefits or retirement ages. Previously announced November measures — including a €400 pensioner bonus and rent and wage subsidies — remain on track.

Mitsotakis stressed that national buffers are insufficient and called for EU-level action on energy costs, suggesting a temporary fuel-tax cut could be considered if Brussels grants emergency fiscal flexibility.