Joint statement by supply chain organizations PEED, ILME, and OFAE regarding fuel price increases

The supply chain industry organizations PEED, ILME, and OFAE held a meeting on March 11, 2026 to discuss recent developments in international fuel prices and their impact on road transport and the supply chain in Greece.

Geopolitical tensions in the Middle East and disruptions in the global oil supply have led to a significant increase as well as intense volatility in fuel prices. Constant daily fluctuations make it extremely difficult to reliably calculate transportation costs and plan operations.

Based on recent increases in diesel prices, transportation costs have already risen by approximately 18–19%, severely hampering the operations of transportation companies. Road transport is the cornerstone of the supply chain. In Greece, where the majority of companies are small and medium-sized enterprises with extremely limited profit margins, absorbing these increases in fuel costs is no longer feasible.

At the same time, most European Union member states have already taken measures to protect transport companies from sudden increases in fuel costs. For example, Spain has implemented a mandatory mechanism for adjusting transport fares based on the price of diesel; Portugal has adopted fuel tax measures; and Hungary has imposed a cap on fuel prices.

The organizations point out that if Greece does not immediately move in the same direction, conditions of unfair competition will arise to the detriment of Greek transport companies. For this reason, they are calling on the government to immediately consider measures to offset the increases, such as reducing or subsidizing the Special Consumption Tax on diesel fuel, so that the price of fuel for transportation stabilizes at pre-crisis levels.

Otherwise, and if the increased costs cannot be absorbed by the market, there is a clear risk of a significant reduction in transport services. Combined with the already acute shortage of drivers, this could lead to supply chain disruptions, with direct impacts on product availability and consumer prices.

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Read the IRU’s statement on the issue of rising fuel prices here: IRU