Greece, Country announced the extension of a subsidy for fuel consumption for the next three months

, SEE Energy News

Greek Prime Minister Kyriakos Mitsotakis announced the extension of a subsidy for fuel consumption for the next three months, to ease the burden on budgets of households and businesses amid the ongoing international energy crisis.

Consumers who received 35 to 55 euros in fuel subsidies in the second quarter of this year, will now receive 60-100 euros for July until October, with more consumers being eligible for the subsidy.

PM Mitsotakis said that total state subsidies for fuel have reached 580 million euros, and direct and indirect aid to ease energy price hikes stands at 8 billion euros. The sum includes subsidies for electricity consumption for households and businesses, and a program to be launched in the coming days to help consumers replace 400,000 old electrical appliances, such as air conditioners and refrigerators, with energy-efficient ones.

Greece’s annual inflation rate hit 11.3 % in May, a 29-year record. The increase was attributed mainly to the rise in energy costs over the past year.

Natural gas prices increased by 172.7 % compared to a year ago, and electricity prices by 80.2 %. Fuel prices increased by 36.6 % compared to May 2021.