Greece is preparing to intervene in the fuel market if global
Greece is preparing to intervene in the fuel market if global oil prices rise above $100 a barrel, as the war in the Middle East begins to push up costs at the pump, Energy Minister Stavros Papastavrou said Sunday.
Speaking on Greek broadcaster MEGA on March 8, Papastavrou said Greece would inevitably feel the impact of higher energy prices tied to regional instability.
“Greece will not remain unaffected by developments in the Middle East when it comes to fuel prices,” he said.
The minister set what he described as a clear trigger point for government action: a rise in Brent crude above $100 per barrel.
“With oil above $100 per barrel, we mobilize,” Papastavrou said when asked about the threshold for intervention.
Deputy Energy Minister Nikos Tsafos had issued a similar warning last week.
Government Weighs Possible Measures
Papastavrou said the government has experience responding to energy shocks, pointing to measures taken during the COVID-19 pandemic and the energy crisis triggered by Russia’s invasion of Ukraine.
If needed, he said, the government will take steps to support household incomes. Decisions on specific measures would ultimately be taken by Prime Minister Kyriakos Mitsotakis.
Among the
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