Motor Oil evaluates extension of fuel discounts

Motor Oil Deputy CEO Petros Tzannetakis addressed the company’s first-half financial results and the future of fuel discounts during a recent analyst conference call. A decision regarding the extension of fuel discounts beyond the current end-of-August deadline is expected next week. The company’s current discount policy, which involves reducing prices for gasoline and motor oil, is estimated to cost approximately €20 million per refinery.

Despite international market volatility and geopolitical tensions in the Middle East and Russia, the company reported high refining margins and maintained supply flexibility by processing 13 different qualities of crude oil. While competitor HELLENiQ ENERGY has already announced an extension of its discounts into September, Motor Oil’s decision will depend on upcoming market conditions and internal assessments.