Tsipras: 1.40 euro cap on heating oil

Alexis Tsipras presented, on Tuesday, September 22, 2026, a proposal to impose a ceiling on heating and motor fuel prices. According to reports from ot.gr, TheToc and CNN.gr, he called for heating oil prices not to exceed 1.40 euros per litre, while for motor oil he proposed a ceiling of 1.80 euros per litre. He stated, as reported by CNN.gr, that “a price above 1.40 euros per litre is not justified”. According to ot.gr’s reporting, he further argued that the government’s target price of up to 1.75 euros per litre is approximately 50% higher compared to the levels recorded in October 2025. He added, again according to ot.gr, that the government has, in his view, the tools but not the will to address practices he attributes to fuel market cartels.

Tsipras’ proposal includes, according to ot.gr and TheToc, four specific measures to reduce fuel prices. The first measure concerns imposing a ceiling on refinery profit margins. The second provides for special taxation of refinery superprofits, which, as Tsipras stated, exceeded 1.5 billion euros in the previous half-year. The third measure concerns reducing the Special Consumption Tax by half, down to the minimum limit allowed by European Union legislation. The fourth measure is reducing the Value Added Tax on fuel to 13%, with Tsipras citing, as ot.gr and TheToc report, Spain’s example as a precedent for applying a similar reduction.

The government, for its part, has stated a different target and proposes different tools. Prime Minister Kyriakos Mitsotakis has set, as recorded in the report «Mitsotakis: heating oil below 1.75€» from Monday, September 21, 2026, the target of setting the starting price for heating oil below 1.75 euros per litre. Within this framework, an across-the-board increase in the heating allowance has been announced, as well as an extension of the subsidy for motor oil for the entire month of October. No direct subsidy to electricity prices has been announced, with the government stating it is monitoring market developments. Energy Minister Stavros Papastavrou has stated that measures will be taken if prices rise. Faced with the two plans, Tsipras seeks a lower price ceiling and immediate intervention in refinery profit margins and taxation, while the government focuses on allowances and subsidies without setting a ceiling on the selling price.

It is not currently known whether the government will formally respond to Tsipras’ specific proposal for a price ceiling, a profit margin ceiling and special taxation of superprofits. It is also unknown when the final prices for this year’s heating season will be set. The issue remains open, awaiting further developments and statements from both sides. More reporting on fuel prices and current affairs can be found on the Economy page.