The Council of Ministers approved a proposal by the Ministry of Finance to extend the reduction in excise tax rates on motor fuels, which was set to expire on September 17, Finance Minister Makis Keravnos announced from the Presidential Palace after the meeting concluded on Thursday. Specifically, he noted that the reduced rates on gasoline and diesel will be extended by 8.33 cents until November 30.
As the Minister said, this decision “stems from the Government’s political will to continue supporting households and businesses, especially during this period marked by all these negative geopolitical developments.”
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When asked whether the Ministry of Finance is considering taking further measures, Mr. Keravnos replied that “we are sticking to the measures I have already announced.”
He added that, due to current developments, prices at this time “are not determined by production costs, but by the stock markets and the market, which are influenced daily by statements from both President Trump and others involved in this geopolitical development, which has created the global economic crisis.”
“Consequently, prices are constantly fluctuating. Three days ago, the price of gasoline was 1.59. In any case, the price of gasoline is among the lowest of all European Union member states, with the exception of Bulgaria,” the minister concluded.
