The additional 8.3 cents per litre on petrol came into effect across the island as of 8:30am on Saturday, according to Marios Drousiotis, head of the consumers association.
The average fuel prices now stand at €1.47 per litre of 95 octane, €1.49 for diesel, and €1.04 for heating oil.
Cabinet also tightened the electricity subsidies, with Phileleftheros reporting that the move will cost the average household about €70 every two months.
The move by cabinet to scrap the reduced rates on motor and heating fuel has drawn mixed reaction, but Drousiotis said the decision was justified as prices have come down.
“Since July 12, petrol has decreased by 44.3 cents, diesel by 58 cents, and heating oil by 54 cents,” he explained.
But Drousiotis emphasised that the government must make sure that the additional levies are also used to help those in need.
Indeed, Finance Minister Makis Keravnos said on Wednesday that the decision was made after considering all available data and the reduced fuel prices.
As for the tweaking of the electricity subsidies, Keravnos said that vulnerable groups will remain eligible for state assistance.
The measure will cost €2.5 million and will last until the end of September.
Vulnerable groups include those receiving Guaranteed Minimum Income, disabled persons, those unable to work, single parents, those with large families, people who receive disability pensions and the unemployed.