The Ministry of Commerce and the fuel companies will meet again on Friday to find a solution for the coverage of the deficit of the PNBS system.

During the two-hour meeting held on Thursday, the two parties had talks on several scenarios that would enable the finding of a joint solution. “The price hike in fuel must be considered as a fact. We currently attempt to find a solution that would avoid high increases”, Commerce Minister, Giorgos Lillikas said, avoiding however to proceed to further details.

According to StockWatch sources, the fuel companies have requested the abolition of PNBS. The government agrees with this aspect on condition that the two parties will reach an agreement on the coverage of the PNBS deficit in combination with a small increase in the price of fuel for the consumer (up to 4 cents).

In case of an agreement, the document will be subject to the Council of Ministers approval.

A fuel company representative told StockWatch, however, that the price hike in fuel will not only include the coverage of the PNBS deficit, but also the costs of the companies that have showed a significant increase due to the dramatic price hike of crude oil for the past three months.