Greece Imposes Profit Margin Cap to Curb Speculation Amid Energy Crisis

Greece has announced a three-month cap on profit margins for fuel and supermarket products to prevent speculation due to surging energy prices. The cap aims to deter profiteering despite global economic uncertainties fueled by Middle Eastern conflicts. These measures are effective immediately and last until June.

Greece announced on Wednesday the implementation of a three-month cap on profit margins for fuel and supermarket products. This move aims to curb speculation resulting from rising energy prices, triggered by geopolitical tensions in the Middle East.

The cap seeks to prevent businesses from profiting excessively amidst global energy price fluctuations. Gas stations will see a cap of 12 cents per litre over the wholesale price of petrol and diesel, while supermarkets could face fines up to 5 million euros if profit margins exceed the 2025 average.

This decisive step, effective immediately and running through June, underscores Greece's commitment to shielding consumers from unwarranted financial strain, despite the country's ongoing recovery from its previous debt crisis.

(With inputs from agencies.)