Fuel prices have risen again: 95 petrol costs more than 2.11 euros/liter

IN Greece Fuel prices are rising again: the average price of gasoline has exceeded 2.11 euros per literand the market warns of new increases.

Fuel prices in Greece went up again: the average cost of unleaded gasoline exceeded 2.11 euros per liter and is already approaching the mark 2.12 euros. The market is actually returning to summer levels 2022when the energy crisis after the outbreak of war in Ukraine hit consumers’ wallets sharply.

According to ERT Newsthe current price of gasoline is only 4–5 cents from the levels Greek drivers saw during the peak of the energy crisis. And this, to put it mildly, is bad news for everyone who still naively considers a car a means of transportation, and not a mobile cash register for collecting taxes and excise taxes.

Average retail price unleaded gasoline is already holding higher 2.11 euros per literwhereas diesel fuel costs a little higher 1.81 euros per liter. At the same time, according to market estimates, without subsidies in 20 cents at the pump the price of diesel could exceed 2 euros per liter.

We are talking specifically about retail prices – those paid by ordinary drivers and professionals at gas stations. But the pressure is also visible at the wholesale level, that is, at the prices of oil refineries, where the direction for the coming days is actually set.

According to available data, unleaded gasoline excluding VAT, sold from oil refineries at approximately 1.60 euros per literA diesel fuel – near 1.30 euros per liter. Compared to the previous week, these prices increased by approximately 5–6 cents per liter without VAT.

After adding the tax, the increase for the end consumer becomes approximately 7 cents per liter. And that’s not all: gas station owners believe that this growth has not yet been fully reflected at the pumps.

According to market participants, drivers should not expect price reductions in the coming days. On the contrary, the more likely scenario is new increases of approximately 1–1.5 cents per liter. That is, the unpleasant arithmetic will continue, it’s just that now it will drip penny by cent, like a poorly closed tap, only instead of water it’s money.

The main reason for the rise in price is related to the international market. The oil market is under pressure from tightening supply, with estimates that millions of barrels have actually dropped out of global trade. This is reflected in the price of oil, which has risen higher $110 per barrel. A week earlier it was at about 106 dollarsthat is, the weekly growth was approximately 4%.

For the Greek consumer, this means one thing: the fuel market is once again entering a zone of high nervousness. Any new movement in international prices, exchange rates or tax policy is quickly transferred to the gas station, where the driver learns about the economy without lectures, charts or press releases – simply by looking at the total on the receipt.

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