Greek Government Announces Fuel Subsidies, but Heating Oil Still Up 41%

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Heating oil in Greece is expected to cost about 41% more than a year ago when sales begin Thursday, despite new subsidies announced by the government that will see the country’s two major refining companies cover half the cost of reducing prices at the pump. Environment and Energy Minister Stavros Papastavrou and Deputy Finance Minister Thanos Petralias unveiled the measures Wednesday, setting out a combination of state subsidies, refinery discounts and increased heating allowances.

The government estimates that heating oil will initially sell for around €1.55 per liter, compared with a projected price of €1.95 without the intervention. Of the 40-cent reduction, 20 cents will come from public funds and the remaining 20 cents from refiners Motor Oil and HELLENiQ ENERGY.

The projected price is well below the €1.75 per liter benchmark previously cited by Prime Minister Kyriakos Mitsotakis, which reflected prices at the end of the last heating season in April. But compared with October 15, 2025, when heating oil sold for €1.10 per liter, consumers will still be paying about 41% more, despite the