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Tue, Oct

Middle East War Complicates New Price Cut Plan in Greece

Middle East War Complicates New Price Cut Plan in Greece

Hellenic Shipping News

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A new round of price reductions on basic consumer goods in Greece is facing uncertainty as rising oil prices and instability in global energy markets put pressure on manufacturers.

The ongoing conflict between the United States and Iran and the increase in oil prices — which recently exceeded $90 per barrel — have raised concerns in the consumer goods industry ahead of an agreement for new price cuts scheduled to begin on September 1.

Companies are expected to submit details by July 27 on which products will be included in the program and the level of reductions they plan to introduce.

Industry questions price commitments

Market sources have raised concerns over whether companies can accurately commit to specific price reductions months in advance, while energy costs remain unpredictable and could increase production expenses again.

“How can a company commit to the level of reduction it will make after two or three months, when energy costs may soon burden its operations again?” industry sources told Greek business news outlet OT.

The issue was

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