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Greece expands energy subsidies and cost-of-living aid

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2026-10-25 07:03 UTC → 2026-10-26 06:08 UTC · added ~~removed~~

Greece is expanding its economic strategy to combat high energy costs and inflation through industrial subsidies and social support. Prime Minister Kyriakos Mitsotakis has announced a €95 million support package for energy-intensive industries, while the government continues to monitor the global energy crisis to determine necessary interventions. To address rising fuel costs, the government has worked to mitigate diesel prices exceeding 2 euros per liter. On August 31, 2026, the Ministry of National Economy and Finance extended the 10-cent per liter diesel subsidy through September. However, by mid-September, diesel prices rose to approximately 2.06 euros per liter, a 34% increase over the previous year driven by Brent crude exceeding 100 dollars per barrel. In regions like Messenia, gasoline and diesel reached 2.13 and 2.15 euros per liter respectively, placing heavy burdens on the agricultural sector and transport companies. High domestic costs have led motorists in northern regions like Serres and Drama to cross into Bulgaria and North Macedonia to find cheaper gasoline, saving between 25 and 35 euros per tank. In response to market volatility, the government has implemented a dual intervention for heating oil, including a 40-cent per liter discount through a joint state and refinery initiative. For the 2026-2027 winter, the government significantly expanded the heating subsidy program; the maximum allowance has risen to a base of 1,040 euros, reaching up to 1,560 euros in high-need regions. This assistance covers various energy sources, including electricity, natural gas, LPG, firewood, and pellets. ~~Political opposition has criticized these measures, with the SYRIZA party proposing more aggressive caps on heating oil and diesel, while others have called for the suspension of fuel taxes.~~ By late ~~September,~~ October, the government ~~introduced~~ extended fuel subsidies into early November, including a ~~debt settlement framework allowing taxpayers to repay obligations in up to 120 installments at~~ 20-cent reduction for diesel and a ~~5.84% interest rate.~~ 10-cent subsidy for unleaded gasoline. To support households, the heating allowance is being increased by 30%, with the application platform expected to open by November 10. Political opposition has criticized these measures.

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