Greece: Fuel Pass Back on the Table Amid Rising Oil Prices

Rising oil prices are prompting the Greek government to consider the Fuel Pass, a fuel subsidy measure. The price of Brent crude oil has exceeded $100 per barrel, raising concerns about potential fuel price increases.

The Fuel Pass was first implemented in April 2022 in response to the energy crisis. According to “Capital”, the government is considering immediate intervention if prices remain above $100 per barrel for a month.

Gasoline prices have already increased, reaching an average of €1.80 per liter in urban centers and over €2 in the islands. Initial estimates for Fuel Pass 3 suggest a subsidy of €50 to €100, similar to previous phases. The previous scheme was based on income criteria, targeting households with income up to €30,000.

During the previous period, gasoline prices had reached €2.20 to €2.40 per liter, and diesel had exceeded €2, with Brent crude at $120 per barrel. In the first round of the Fuel Pass, households received a subsidy of €30 to €50 for a three-month period.