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Former Energy Minister Warns Against Fuel Price Caps, Outlines Alternative Solutions

Published March 23, 2026, 07:13
Former Energy Minister Warns Against Fuel Price Caps, Outlines Alternative Solutions

Former Energy Minister George Papanastasiou analyzes the impact of the escalating conflict in the Middle East on energy markets and citizens' daily lives. He points out that the energy disruption is linked to attacks on critical energy infrastructure, primarily in Iran and Israel, aimed at limiting economic and geopolitical power. Particular emphasis is placed on the South Pars field and the Strait of Hormuz, as well as the uncertainty that is driving up prices. Mr. Papanastasiou expresses reservations about imposing price caps on fuel, as this could have negative consequences. The global market has already lost 1.5 million tons per day from supply, while demand remains high, leading to increased oil and natural gas prices. This situation directly affects the cost for the consumer.