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Politics

Fuel Market Has a Cap on Profits, Georgiadis Says

ATHENS – “With the measures taken by the government and the controls we carry out, we will always have the price of the barrel reduced,” Development and Investments Minister Adonis Georgiadis said on Wednesday in an interview with public broadcaster ERT, referring to the rising cost of energy and its knock-on effect on prices in the market that end up being paid by consumers.

The minister noted that since the maximum profit ceiling has been established throughout the fuel supply chain and continuous inspections are carried out, it is impossible for the fall in the price at refineries to not be passed on to fuel retailers. It is also impossible, he added, because inspections starts at the refinery. “So we check from the time of the import of oil until the time when the fuel arrives at petrol stations,” he said.

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