Greek Prime Minister Kyriakos Mitsotakis announced the “imposition of a ceiling on profit margins” on fuel prices with the aim of reducing monopolistic practices that may occur as a result of high prices resulting from the conflict in the Middle East.
Mitsotakis explained in his statements: “Today, Wednesday, a ceiling was imposed on profit margins for fuel and supermarket products,” noting that “this economic crisis should not lead to speculation.”
According to Agence France-Presse, Mitsotakis acknowledged during a meeting with the Greek President, Costas Tasoulas, that “the economic repercussions of the crisis in the Middle East raise our grave concern.”
Setting a ceiling on profit margins means that the state sets the maximum profits that gas stations and supermarkets are allowed to achieve from selling goods to consumers.
This measure aims to prevent manipulation of profit margins and exploitation of high global prices to achieve unjustified gains.
Mitsotakis added that this measure “will be implemented during the next three months,” but at the same time, he ruled out taking radical measures similar to what was taken by two other European Union countries, Croatia and Hungary, which chose to set a ceiling on fuel prices. (Arabic)
