From April 4 and not from the 2nd of the month, the government measure to reduce the consumption tax on fuel will finally be implemented, according to what was presented to the Parliamentary Committee on Finance.
The measure was submitted on Thursday in the form of urgency and is expected to be put to a vote in the Plenary on the same day, so that it can be implemented from midnight on Saturday.
The regulation provides for a reduction in consumption tax by 8.33 cents per liter on gasoline and by 6 cents per liter on diesel. As stated by the head of the Tax Policy Unit of the Ministry of Finance, Naya Symeonidou, the goal is to deal with the rise in fuel prices due to the war in the Middle East.
According to her, the government's approach follows the recommendations of the Eurogroup, so that the support measures are temporary and limited in nature. For this reason, the validity of the measure will remain until the end of June, and then it will be re-evaluated depending on developments.
The total cost of the intervention is estimated at €18.6 million.
Ms. Symeonidou explained that the implementation is postponed from April 2 to 4, so that, if the measure is voted and published in the Official Gazette of the Republic on Friday, companies will be given the necessary time to adjust their prices.
At the same time, he reminded that the reduction of VAT on electricity to 5% for all household consumers has already been published by decree since last Friday and will apply from May 1, 2026 to March 31, 2027.
During the discussion in the Committee, the president of the body and DIKO MP, Christiana Erotokritou, raised the question of whether the reduction in fuel will be passed on immediately and fully to consumers, without profiteering phenomena.
In response, Ms. Symeonidou stated that the implementation of the measure is monitored by the Consumer Service, while the Ministry of Commerce is responsible for issues of complaints and possible sanctions. She added that she will inform the Parliament of any previous complaints.
For her part, Ms. Erotokritou stated that DIKO will call on the Ministry of Commerce to intensify controls, in cooperation with the citizens, noting that those who attempt to profit from a measure that deprives the state of revenue are, as she said, "doubly punishable".
AKEL MP, Christos Christofides, commented that the fact that increases in international prices are directly passed on to consumers is also profiteering, while the argument of existing stocks is often put forward in the reductions.
DISY MP Savia Orfanidou raised the question of whether the application of the zero VAT rate to specific products has been evaluated, underlining the need for more targeted measures.
Ms. Symeonidou replied that, based on the picture that exists, the reduction seems to be passed on to the consumer and prices are systematically monitored. As she said, precisely for this reason, the measure does not have a permanent character, but is renewed, so that it can be evaluated at each stage whether the consumer is indeed the final beneficiary.
