Fuel prices in Greece have gone up again: as of September 15, the average price of gasoline reached approximately €2.16 per liter, diesel – €2.14, and refineries today added another 1 and 3 euro cents, respectively.
The rise in fuel prices in Greece continues almost daily. According to the latest data ERTNews on September 15the average price of 95 gasoline in the country reached approximately: €2.16 per liter, and diesel fuel: €2.14 per liter.
Moreover, on the morning of September 15, oil refining companies again increased selling prices:
- gasoline – about 1 euro cent per liter;
- diesel – about 3 euro cents per liter.
The President of the Attica Gas Station Owners Association, Nikos Papageorgiou, warns that a similar increase could follow in the coming days.
95 gasoline – approx. €2.16/l
Diesel – approx. €2.14/l
The official bulletin gives €2,158 per liter of gasoline
The latest full daily price bulletin from the Ministry of Development gives very similar values.
According to data for September 14:
| Fuel | Average price |
|---|---|
| 95 gasoline | €2,158/l |
| 100th gasoline | €2,387/l |
| Diesel | €2,122/l |
| LPG | €0.987/l |
However, today’s next increase in selling prices is already pushing retail above these values.
In Attica, gasoline approaches €2.20
At some gas stations in the capital the price is already close to:
€2.20 per litre.
At the same time, the official price observer shows a significant spread even within Attica.
According to the latest available data:
- Athens – about €2,131 on average;
- Eastern Attica – about €2,146;
- Western Attica – about €2,135;
- Piraeus – about €2,140.
These are average figures, so at a specific gas station the price may be noticeably higher.
On the islands the situation is much worse
The highest prices are traditionally recorded on the islands and in remote areas.
The latest FuelPrices.gr statistics show:
| Region | Average price of 95 |
|---|---|
| Cyclades | €2,355 |
| Dodecanese | €2,265 |
| Lefkada | €2,250 |
| Eurytania | €2,229 |
| Kefalonia | €2,218 |
In the Cyclades, individual gas stations set prices up to:
€2,499 per liter.
Why do prices keep rising?
The main reason is a new surge in world energy prices.
Brent has risen approximately in recent weeks:
from $84 per barrel on August 26 to $108 per barrel on September 14.
That is, in about twenty days, oil prices have risen by almost:
$24 per barrel.
In the last week alone, the increase was about:
9%.
The Middle East puts pressure on the market again
Geopolitical tension remains the main factor.
The market fears:
- new attacks on energy infrastructure;
- risks for shipping;
- supply restrictions;
- growth of insurance premiums;
- increase in the cost of sea transportation of oil and petroleum products.
Particular attention is paid to routes through:
- Red Sea;
- Persian Gulf;
- Strait of Hormuz.
Gas station representatives are already talking about daily increases
President of the Federation of Greek Gas Station Owners Michalis Kiousis warns of possible:
2–3 euro cents growth almost daily,
if the international situation does not stabilize.
General manager ΙΕΛΚΑ Lefteris Kioses also believes that in the near future more may be added to the average price:
2–4 euro cents.
Growth may be stronger in the provinces
The reason is simple:
Athens and Thessaloniki are closer to major logistics centers.
For remote areas the following are added:
- transportation costs;
- sea delivery;
- smaller market size.
Therefore, a new wave of price increases may hit harder:
- islands;
- mountainous areas;
- remote province.
Video: rising fuel prices and market forecast
ERT – Nikos Papageorgiou on rising prices for gasoline and diesel.
How much does a regular gas station cost now?
At an average of €2.16:
- 40 liters – €86.40;
- 50 liters – €108;
- 60 liters – €129.60.
If a motorist fills up 50 liters twice a month:
€216 per month for petrol only.
And this without:
- toll roads;
- parking;
- service;
- insurance.
Traveling around Greece is becoming significantly more expensive
Let’s take a trip to approximately:
500 km.
A car with a consumption of 7 l/100 km will consume:
35 liters.
At €2.16 this is:
€75.60 for petrol only.
If you fill up on the island for €2.35:
€82.25.
Diesel growth is especially sensitive
Diesel affects more than just motorists.
It is used:
- trucks;
- logistics companies;
- by bus;
- construction equipment;
- agriculture.
Therefore, diesel at €2.14 is gradually being transferred to:
the cost of almost all goods.
Products also receive an additional transport margin
If shipping costs increase:
- vegetables;
- meat;
- milk;
- drinks;
- building materials,
Some of the costs are ultimately passed on to the consumer.
This is why the current rise in fuel could support inflation again.
Gas prices are also going up
European natural gas rose to around:
€84 per MWh.
During the day the increase was about:
5.7%.
Compared to the previous year – more:
160%.
And electricity is already becoming more expensive
The high price of gas directly affects electricity.
As of September 15, the wholesale price of electricity in Greece was approximately:
€170 per MWh.
For comparison:
The average price in August was around:
€133.4 per MWh.
That is, a new energy crisis begins to strike simultaneously:
- by car;
- on transportation;
- on electricity;
- at business cost.
Second video: energy crisis and fuel
OPEN – rising cost of diesel and gasoline amid the crisis in the Middle East.
Why is gasoline so expensive in Greece?
The price at gas stations is determined not only by the cost of oil.
It includes:
- price of petroleum product;
- excise taxes;
- VAT;
- refinery margin;
- wholesale;
- transportation;
- gas station margin.
Therefore, even a fall in Brent does not automatically lead to an immediate drop in retail prices.
But taxes don’t disappear anywhere
A significant portion of the cost of each liter comes from:
excise duty + VAT.
Moreover, VAT is actually charged on the price component that includes fuel excise tax.
How to find a cheaper gas station
The Ministry of Development maintains the official service:
Fuel prices – FuelPrices.gr.
There you can check:
- region;
- specific gas station;
- fuel type;
- last advertised price.
Official price monitoring FuelPrices.gr
The difference even within the same city can make the search worth it
If two stations differ by:
€0.10 per liter,
on a 50 liter tank the difference is:
€5.
For regular trips this is already a noticeable amount.
But too cheap a price should also be a concern
If one gas station sells fuel much cheaper than all its neighboring ones, you should pay attention:
- on the station’s reputation;
- for quality;
- on the accuracy of pump operation.
Greek regulatory authorities regularly identify violations in the fuel market.
Could the government intervene again?
If oil prices remain above $100, pressure on the government will increase.
In previous periods, authorities used:
- subsidies;
- Fuel Pass;
- price agreements with companies;
- targeted support.
At this time, no new Fuel Pass has been officially announced for the fall.
What to expect in the coming days
The scenario depends primarily on geopolitics.
If Brent continues to hover around:
$108 per barrel or higher,
The Greek retail market is highly likely to see several more consecutive increases.
Moreover, industry representatives are already saying directly:
the current €2.16 may not be the peak.
Briefly about the main thing
| Indicator | On September 15 |
|---|---|
| 95 gasoline | ≈ €2.16/l |
| Diesel | ≈ €2.14/l |
| Cyclades, middle | ≈ €2,355/l |
| Cyclades, maximum | up to €2,499/l |
| Brent | about $108/bbl. |
| Gas | about €84/MWh |
| Electricity, wholesale | about €170/MWh |
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