Greece will subsidise heating oil for households ahead of winter

The Greek government will provide an extra €98 million in subsidies for heating oil and fuels by the end of the month to help offset the impact of surging energy costs on households during the winter. Governments across Europe have introduced various measures to shield consumers from soaring bills stemming from tight energy supplies amid conflicts in Ukraine and the Middle East. Energy minister Stavros Papastavrou said the state subsidy for heating oil in the second half of October would be €0.20 per litre, with another €0.20 discount from the Greek refinery companies, to try to keep prices to about €1.55 per litre. Papastavrou also announced a subsidy of €0.15 per litre for diesel and €0.10 per litre for gasoline, adding in his televised statement that possible extension of the subsidies for November will be decided by the end of the month. The cost for the refinery companies was not immediately known. Heating oil, which is widely used in Greece, is available for the winter season from October 15 until April 30. The center-right government announced on Tuesday a 30% rise in the annual benefit for heating oil. It has spent more than €860 million since the beginning of the year in energy subsidies to households and businesses.