Prices of liquid fuels in Greece are experiencing unprecedented rallies after the rally of crude oil topping 130 dollars per barrel due to the war in Ukraine. The increases are cataclysmic not only from day to day but also from hour to hour, with the average nationwide price of unleaded now exceeding 2 euros per liter.

The price of heating oil reaches or exceeds 1.5 euros per liter (!) according to the websites of traders, in view of the new coming severe weather front.

This is an increase of over 40% in simple unleaded since the beginning of the year and a 75% increase in heating oil compared to last year. Gas station union officials even said that with the pace at which the market is moving, the prices of unleaded can even reach 2.5 euros in the coming days, especially if black gold continues to rally on international markets.

This is a development that creates huge problems for households and especially for those who need to commute by car every day or often to go to work or other obligations, especially as there is still the fear of the coronavirus that makes many unable or unwilling to use public transport.

Market players’ estimates are revealing. According to them, the average price of 95-octane unleaded in Attica was around 2,030 per liter, with the average nationwide price being around these levels. The same estimates stated in the Prefecture of Thessaloniki, the average price of unleaded 95 octane was at 2,020 euros per liter, while in the Prefecture of Cyclades it was close to 2.2 euros per liter. Average prices of diesel also appear above 1.8 euros per liter. This creates the conditions for large price increases and due to the increase in shipping costs that are expected to be passed on to the consumer. Increases in diesel fuel since the beginning of the year exceed 54%.

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