The government imposes a cap on the profit margin (the maximum profit that a business can have from a product) in fuels and in supermarket products, until at least 30.06, in order to “combat profiteering” and under the fear of new price increases due to the war of the US–Israel in Iran.
“This disturbance must not lead to phenomena of speculation,” the prime minister stressed and stated: “We are on alert for further consequences of the crisis.”
This, under the fear of new price increases due to the war of the US–Israel in Iran, and while inflation in foods in February, before the war, reached 4.1%.
The imposition of a cap on the gross profit margin in the trading and retail of fuels had been implemented again in 2021, until 2025.
In fuels, the profit margin cannot be above 5 cents per liter in wholesale and at the stations above 12 cents.
In supermarket products, it will not be permitted for a product to be sold with a higher profit compared to its average (profit) in 2025.
The cap on the profit margin means that the state sets a maximum limit on the profit that a business can have on top of its cost, and not a maximum final price.
Meanwhile, on Monday (09.03) a meeting had taken place on the issue of price increases at the Maximos Mansion and depending on the duration and the extent of the war in the Middle East, there may also be other measures, such as the subsidy of the Fuel Pass.
Source: News 247
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