Greece Unveils Four-Step Timeline to Shield Households From Fuel Price Spikes This Fall

Greece's government is rolling out a phased package of fuel subsidies and energy support beginning Oct. 1, Prime Minister Kyriakos Mitsotakis has announced, aiming to keep heating oil prices below €1.75 a liter this winter rather than the near-€2 level officials feared.

Under the plan reported by state broadcaster ERT, a new dual subsidy funded jointly by the state budget and Greek refineries takes effect Oct. 1 for diesel, alongside continued refinery-funded support for unleaded gasoline and the reinstatement of a cap on fuel retailers' profit margins.

The biggest intervention lands Oct. 15, when heating oil sales begin for the season.

The government plans a combined state-and-refinery subsidy designed to hold pump prices around €1.70 to €1.75 a liter, paired with the same profit-margin cap to limit additional costs passed on to consumers. Final figures are expected early next week.

By late November, the government will disburse roughly €1 billion combined through an annual €400 payment to pensioners and people with disabilities and a rent rebate program.

Just before Christmas, an advance payment of the heating subsidy is expected to reach about €300 million, up from roughly €240 million last year, with larger payments targeted at households in colder regions and those relying on electric heating.

Beyond domestic measures, Athens is pushing for a broader European discussion on temporarily cutting excise taxes on fuel, with officials saying they will monitor international price trends before deciding whether additional intervention is needed for fuel, electricity and natural gas.

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