Theodorikakos: Profiteering and illegal speculation cannot be tolerated

"Last Saturday there were complaints about a sudden price increase, so I immediately ordered  DIMEA to carry out inspections and impose the penalties stipulated by law, and this produced results," emphasised Development Minister Takis Theodorikakos in an interview with OPEN TV on Friday. He added that "160 fuel stations were inspected and the rate of non-compliance is estimated at one in six stations for violations of the price cap law."
"The market is closely linked to developments in the Middle East. If the military confrontation continues or escalates with the involvement of other states, it is obvious that the impact on oil prices will be significant-and that will be purely negative, as inflationary pressures will intensify. Profiteering and illegal speculation cannot be tolerated. There is a distinction between the global rise in prices and its effects, and profiteering by opportunists", he underlined.
“ The law is the law, and as long as it is in force, it will be enforced. We have proven to everyone that we are doing our job as strictly as possible, in favour of consumers and of fair and lawful competition,” said the Minister of Development.
In this context, Theodorikakos reiterated that the profit cap based on 2021 profits ends on June 30, and that the Ministry of Development is advancing the creation of a new independent authority for market oversight and consumer protection. "The model we will follow is similar to that of the Independent Authority for Public Revenue (IAPR), aiming to establish a strong agency with staffing and upgraded digital tools. That is the mission of the Ministry of Development for the next six months,” he noted.

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