Heating fuel: premiere with 1.33-1.38 euros per litre price range

By Christos Kolonas

Heating fuel hit the market today with prices lower than original projections.

According to OT’s source, HELLENiQ ENERGY refineries (formerly Hellenic Petroleum, or HELPE), has decided to offer an additional discount of 75 euros (including VAT) per 1,000 litres to commercial petroleum companies.

HELLENiQ ENERGY discounts

That results in final consumer prices of between 1.37 and 1.38 euros per litre.

The government subsidy of 0.25 euro per litre has been factored into the above prices.

Meanwhile, HELLENiQ ENERGY offered an additional five percent discount to its subsidiary, EKO, which now sells heating fuel at 1.33 euros per litre.

Motor Oil price adjustments

Motor Oil sources also said that the Group’s commercial companies – AVIN, SHELL, and CYCLON – are adjusting their pricing policies to the levels of the competition.

Market sources attribute the move to refineries’ strategic choice to support society in the difficult period households are experiencing due to the energy crisis.

Prices under 1.40 euros per litre represent an upset of prices until now, which ranged between 1.44-1.49 euros per litre.

18 percent hike of heating fuel starting price since a year ago

It should be noted, however, that the starting price of heating fuel is 18 percent higher than the same period last year on the first day of distribution, when the median price was 1.16 euros per litre.

Natural gas

With extra discounts on heating fuel, the price difference with natural gas is being reduced.

Natural gas will be 15 percent cheaper, instead of 20 percent as initially projected, than heating oil.

According to natural gas providers, the pricing in October for household consumers will be approximately 0.11 euro per kilowatt-hour (kWh).

That price includes the subsidy from DEPA Commercial, which is 0.09 euro per kWh.

As previously noted, heating petrol kicked off with a price between, 1,37 and 1.38 euros per litre.

To compare these prices with natural gas, there was a conversion of their values to the kWh unit of measurement. Based on the conversion, the resulting prices are between 0.13 and 0.131 euro per kWh.

Hence, natural gas will be approximately 15 percent cheaper than heating oil.

Consumers should also know that heating oil prices change on a daily basis, whereas the aforementioned natural gas prices apply throughout the month of October, and providers may have different pricing in November.