Average price of 95 gasoline in Greece rose to 2.11 euros per literand on the islands has already exceeded 2.30 euros – against the backdrop of a new energy crisis, the authorities are talking about the need for emergency measures.
The rise in oil prices quickly reached Greek refineries and gas stations. The international Brent price approached 102 dollars per barrelwhich is approximately 54% higher than a year ago.
At the same time, natural gas is becoming more expensive, the cost of which has reached approximately 80 euros per megawatt-hour. As a result, not only car owners came under pressure, but also transport companies, enterprises, agriculture and almost the entire goods delivery system.
How much does gasoline cost in Greece?
According to the data provided ERTnewsthe average retail price of unleaded gasoline has reached:
- 2.11 euros per liter — national average;
- more 2.20 euros – in many regions of mainland Greece;
- more 2.30 euros – on individual islands.
The average cost of diesel fuel has risen to approximately 2.07 euros per liter.
Current prices of specific gas stations can be checked through the official Monitoring prices for liquid fuels. The service allows you to search for gas stations by region, municipality, type of fuel and price.
A full tank already costs more than 100 euros
With an average gasoline price of 2.11 euros per liter, refueling a passenger car costs as follows:
| Fuel volume | Cost at €2.11 | On the islands at €2.30 |
|---|---|---|
| 40 liters | €84.40 | €92 |
| 50 liters | €105.50 | €115 |
| 60 liters | €126.60 | €138 |
Thus, even the owner of a relatively small car, with two gas stations of 50 liters each, spends about 211 euros per month. On the islands, a similar volume will cost approximately 230 euros.
With regular trips and three full refuelings, monthly costs increase to 316–345 euros. For a family with two cars, fuel again becomes one of the main budget items.
Why are prices rising so fast?
The price of gasoline in Greece is influenced not only by the price of crude oil. Between the Brent quote and the gas station price tag are processing, transportation, storage, wholesale and retail margins, excise duty and VAT.
The price of petroleum products leaving Greek refineries has already increased significantly. According to ERTnews, the cost of gasoline excluding VAT reached approximately 1.57 eurosup seven cents since the start of the month.
Diesel is becoming more expensive even faster: its corresponding price has increased from 1.38 to 1.50 euros per liter.
That is why the rise in crude oil is not reflected at gas stations instantly, but with a relatively short delay. If Brent continues to hold above $100, the new fuel purchase cost will gradually be passed through to retail prices.
Why is gasoline so expensive in Greece?
A significant part of the final cost is taxes. Gasoline is subject to a fixed special consumption tax, and then VAT at a rate of 24%, which is calculated taking into account other components of the price.
As a result, the government receives more tax revenue when the base cost of fuel increases. That is why representatives of consumers and gas station owners traditionally demand a temporary reduction in excise tax or VAT.
The government, however, has not yet announced a reduction in fuel taxes. Such a step would be costly to the state budget and would apply to all buyers regardless of their income level.
What emergency measures are being considered?
Development Minister Takis Theodorikakos said that with the continuation of military conflicts and a further increase in oil and gas prices, it will be necessary emergency measures.
“If two wars continue – in the Middle East and in Ukraine – we will face an extremely difficult winter. With further increases in the cost of oil and natural gas, emergency measures will obviously be required.”
At the moment we are talking about scenarios, not about final decisions. Among the options discussed:
- extension of state subsidies for automobile fuel;
- extension of discounts provided by oil refineries;
- separate support for the cost of heating fuel;
- revision of the heating allowance;
- additional incentives for switching to electric heating;
- coordinated measures at European Union level.
According to ERTnews, the calculations now already take into account support in the amount of 10 cents for gasoline and 15 cents for diesel. If this assistance is withdrawn while international prices remain high, the burden on motorists could increase even further.
Important: The government has not yet approved a new aid package. Extension of subsidies, additional discounts and changes to the heating allowance remain scenarios under consideration.
There are no promises to reduce the excise tax yet
The most understandable measure for drivers would be a direct reduction in fuel excise tax or VAT. For example, reducing the final price by 20 cents would save 10 euros when filling a 50-liter tank.
But such a measure creates large losses for the budget. In addition, the authorities cannot guarantee that the entire tax reduction will be fully and permanently transferred to the retail price, and will not be partially absorbed by other market participants.
Therefore, a more likely option remains a targeted subsidy – similar to previous support programs – or a temporary discount from oil refining companies.
What happens if oil stays above $100
If the fighting drags on and supplies through the Persian Gulf remain at risk, gasoline prices could continue to rise. Islands are particularly vulnerable, where higher shipping costs and small fuel distribution costs are added to the wholesale price.
The rise in prices will affect not only motorists. More expensive diesel increases costs for trucks, agricultural machinery, tourist buses, taxis and delivery services.
These costs are gradually included in the cost of food, building materials, tourism services and almost all goods transported by road.
Therefore, the price of 2.11 euros per liter is not only a problem for the driver at the gas station. This is one of the channels through which a new energy crisis could turn into another wave of inflation.
How to save on gas station
The difference between the nearest gas stations, even in the same area, can be 10–20 cents per liter. When purchasing 50 liters, this gives a saving of 5 to 10 euros.
Before refueling, it makes sense to check prices for fuelprices.grpaying attention not only to the lowest price, but also to the date of its renewal.
You should also avoid driving on an almost empty tank: having to refuel on a motorway, a tourist island or in a remote area significantly reduces your options.
The coming weeks will show whether the government will limit itself to extending existing support or will be forced to take a broader package of measures. In the meantime, Greek motorists have to get used to the new reality: a full tank of a regular passenger car costs more than 100 euros again.
The material was prepared according to data from ERTnews and the official Monitoring of prices for liquid fuels of the Greek Ministry of Development.
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