The Greek government has announced profit caps in an emergency package of measures to curb profiteering and shield consumers from price spikes triggered by the ongoing crisis in the Middle East.
As previously signaled by PM Kyriakos Mitsotakis, a mandatory ceiling (cap) on profit margins has been imposed on fuel and essential supermarket products. “This turmoil should not lead to profiteering,” Mitsotakis said during a monthly meeting with the Greek President.
During a press briefing on Wednesday, Vice President Kostis Hatzidakis confirmed that a legislative act is being fast-tracked today to ensure the measures take effect immediately via the Government Gazette.
Hatzidakis reassured the public that there are “no issues regarding supply adequacy at any level, particularly concerning energy.” He attributed the government’s ability to intervene to its “policy of fiscal responsibility,” noting that current fiscal buffers allow for these targeted interventions.
Fuel price caps: Strict limits for wholesalers and retailers
Energy Minister Stavros Papastavrou detailed the preventative interventions in the liquid fuel market, which will remain in effect until June 30, 2026. The specific caps are as follows:
- Wholesale/Trading Companies: Restricted to a maximum markup of 5 cents per liter over the refinery supply price for 95-octane unleaded and diesel
- Retail Stations: Prohibited from exceeding a markup of 12 cents per liter over their procurement price when selling to consumers
- Island Exceptions: To ensure supply stability in remote island regions, trading companies may apply an additional “special distribution cost” above the 5-cent limit, subject to a forthcoming ministerial decision.
Supermarket and food industry crackdown
Minister Takis Theodorikakos announced that profit caps will also extend to the food supply chain, covering manufacturers, wholesalers, and supermarkets.
- Benchmark Year: Businesses are prohibited from exceeding the average gross profit margin per product code that they maintained during 2025.
- Duration: The measure will initially run until June 30, at which point the government will review which categories require continued oversight.
To deter “unfair profiteering,” fines for violators will amount to as much as €5 million, scaled according to the size of the business and the volume of the infraction.
Related: Qatar LNG Disruption Could Cut Greece’s Household Income 5%
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