The margin of profit of the fuel companies stands at 25% according to the estimates of the competent Advisory Committee, while the correspondent profit in other European countries stands between 20% - 30%, Commerce Minister, Giorgos Lillikas stated on Monday. The Advisory Committee had a meeting on Tuesday to prepare the parameters that will take into account when it sets and estimates prices. Its estimates are based on data delivered by the Customs and allow a rational analysis on the import cost of certain loads.

Commenting on the downward trend of the fuel prices worldwide, Mr. Lillikas said that he expects price cuts in the domestic market as well since companies buy fuel at lower prices.

As for the natural gas, Mr. Lillikas said that a company has already announced a price cut of £15 per ton. “This means that we expect a decline of 15 cents per cylinder in the retail market. The government will carry out the necessary inspections to see if price cuts will be to the benefit of the consumers. Last week, another company had announced a lower cut of 5 cents”, he said.

On the question why isn’t the provision for heat insulation obligatory for houses, Mr. Lillikas said that the Ministry has already prepared a study on heat insulation and other parameters that will be obligatory in the building permits that will be issued in the future.