Newsflash from Wednesday, 11 March 2026:

The Greek government has announced a sweeping set of emergency measures designed to shield consumers from “profiteering” (aischrokerdeia) as international tensions in the Middle East continue to destabilize global markets.

In a joint press conference, Vice President Kostis Hatzidakis, Energy Minister Stavros Papastavrou, and Development Minister Takis Theodorikakos detailed a strict legislative framework that imposes a profit margin cap on essential goods and fuel until June 30, 2026.

Here is everything you need to know about the new measures and how they will impact the Greek market.

Strict Limits on Fuel and Food Margins

To prevent speculative price hikes triggered by the conflict in the Middle East, the government is implementing specific ceilings on profit margins.

Fuel Price Controls

Minister Stavros Papastavrou announced that the profit margin for fuel will be strictly regulated through mid-2026:
* Wholesale: Capped at 5 cents per liter.
* Retail (Gas Stations): Capped at 12 cents per liter.

Special provisions are also being drafted for Greek islands to ensure supply adequacy and prevent geographic price exploitation.

Food and Supermarkets

Minister Takis Theodorikakos confirmed that the profit margin cap extends to the food sector. This measure applies to:
* Supermarket chains
* General trade enterprises
* Product distribution and logistics companies

Heavy Penalties for Violators

The government is sending a clear message to the market: “Every trickster to their bench,” as Vice President Hatzidakis colorfully put it.

To ensure compliance, the state has authorized massive fines for those found to be price-gouging. Depending on the size of the business and the severity of the violation, fines can reach up to €5 million.

A Legislative Act (PNP) is being fast-tracked to ensure these measures are published in the Government Gazette and implemented immediately.

Energy Security and Strategic Defense

Despite the regional instability, Vice President Hatzidakis reassured the public that there is no threat to the supply chain, particularly regarding energy.

The government highlighted that Greece’s “energy defense” is being bolstered by two main pillars:
1. Renewable Energy: The expansion of green energy sources is making the country less vulnerable to international oil and gas shocks.
2. Hydrocarbons: The government is moving forward with the ratification of agreements with Chevron and Helleniq Energy to develop domestic hydrocarbon resources.

A Message from the Prime Minister

Prime Minister Kyriakos Mitsotakis emphasized that while the government cannot control primary price increases caused by international turmoil, it will not tolerate domestic exploitation of the crisis.

“We cannot prevent primary price increases, but we are sending a clear message that economic unrest must not lead to phenomena of profiteering,” Mitsotakis stated.

Key Takeaways for Consumers:

* Duration: These measures are active until June 30, 2026.
* Scope: Covers fuel (gasoline/diesel) and essential supermarket food items.
* Goal: To stabilize the market and prevent “imported” inflation from being artificially inflated by local distributors.

As the situation in the Middle East evolves, the Greek government has pledged to remain in close contact with European partners and intervene further if the economic landscape shifts.

NeaKriti

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