Wed. Oct 4th, 2023
    Fuel Prices in Greece Continue to Rise, Reaching Over 2 Euros on Average

    The fuel prices in Greece have been steadily increasing, with the average price of unleaded 95 octane reaching over 2 euros per litre. According to the Ministry of Development, unleaded 95 octane was priced at 2.037 euros per litre on Monday, up from 2.033 euros per litre on Sunday.

    The upward trend in prices was also seen for other types of fuel, except for LPG. Unleaded 100 octane increased to 2.211 euros per litre on Monday from 2.208 euros per litre on Sunday. Diesel increased to 1.844 euros per litre on Monday from 1.837 euros per litre on Sunday. Autogas increased to 0.892 euros per litre on Monday from 0.889 euros per litre on Sunday.

    Different prefectures in Greece experienced varying fuel prices. In Attica, the average price of simple lead-free was 2.006 euros per litre, while in Cyclades, it exceeded 2.26 euros per litre. The price of gasoline reached 2.2 euros per litre in the Dodecanese.

    The rise in domestic fuel prices is primarily attributed to the increase in international crude oil prices. Brent crude oil is currently priced above $95 per barrel, while WTI crude oil is priced above $92 per barrel. These prices have increased by one-third since mid-June.

    The increase in fuel prices in Greece is a cause of concern for consumers and businesses alike. It is important to monitor the situation and adjust budgets accordingly to mitigate the impact of rising fuel costs.

    Source: Ministry of Development

    Definitions: unleaded 95 octane – a type of gasoline with an octane rating of 95, indicating its resistance to “knocking” or premature ignition; LPG – liquefied petroleum gas, a flammable hydrocarbon gas used as a fuel in heating appliances, cooking equipment, and vehicles; Brent crude oil – a grade of crude oil used as a benchmark for oil prices; WTI crude oil – West Texas Intermediate, another grade of crude oil used as a benchmark for oil prices.