Theodorikakos: Speculative profiteering beyond legal limits will not be tolerated

The Minister of Development, Takis Theodorikakos, sent a zero-tolerance message against illegal profiteering during an interview on the TV station Open on Sunday, following recent developments in the Middle East and their initial impact on the economy.
As the minister emphasised, "The flare-up in the Middle East is extremely alarming and dangerous, primarily for peace and stability in our region, which includes Greece. It is absolutely necessary for the situation to de-escalate because the economic consequences will only be negative."
Referring to reports of price hikes in the domestic fuel market even before quantities with the new international prices arrived in the country, Theodorikakos noted: "There were complaints that some rushed to increase prices at gas stations. That is why I ordered the Interagency for Market Control (DIMEA) to begin extensive inspections yesterday and continue them in the coming days to determine if there has been a violation of the profit margin cap."
The Minister of Development reminded that until June 30, legislation remains in effect prohibiting gas station owners from selling with a profit margin higher than that in 2021, before the inflationary pressure caused by the war in Ukraine began. "I want to send a clear message that anyone who violates the law will face serious consequences," he stressed, noting that fines can reach up to 5 million euros.
At the same time, he underlined that the phenomenon of unjustified price hikes highlights the need for a stronger and more effective framework for market monitoring and intervention. "This is also one of the reasons why we are moving forward with a major reform: the creation of a strong, independent Market Supervision and Consumer Protection Authority, with unified procedures, clear rules, and full institutional safeguards," he added.
"We are monitoring the situation with absolute vigilance. We will do whatever is necessary and whatever is within the power of the Greek state to protect citizens and consumers. Speculative profiteering beyond legal limits will not be tolerated," concluded Theodorikakos.