Pressure in the fuel market is intensifying as the government’s economic team works out the details of measures announced by the prime minister to contain energy costs, with heating oil the first priority. According to Kathimerini, the government aims to keep the price below €1.75 per litre when the heating season begins on October 15. The final package of measures will depend on international prices and the contribution of refineries.
Measures under consideration include an increase in the heating allowance for existing beneficiaries, without changes to income criteria, as well as an extension of subsidies on petrol and diesel, at €0.05 and €0.10 per litre respectively, including VAT. Pressure at the pump remains strong, however, with the nationwide average price of diesel rising to €2.217 per litre, above petrol at €2.195 per litre. Petrol prices exceed €2.20 per litre in 18 regions.
Analysts warn that wholesale electricity prices in Southeastern Europe could be up to 66% higher in the fourth quarter of 2026 than in the same period in 2025.
Meanwhile, pressure is also mounting in the electricity market. The average wholesale price exceeded €200/MWh for the first time this year, reaching €211.76/MWh, compared with €76/MWh a year earlier. The average price for September is approaching €160/MWh, around 20% higher than in August.
Pressure is even greater in Romania and Hungary, where prices have exceeded €230/MWh. Montel analysts estimate that electricity prices in Southeastern Europe could be up to 66% higher in the fourth quarter of 2026 than in the same period last year, due to volatility in natural gas prices and lower hydropower generation caused by drought.
Source: Kathimerini
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