Saturday, November 22, 2014
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Gasoline, Oil Prices Jump Across Greece

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Athens is particularly worried by Iranís threats to halt the supply of oil to the European Union, while the average price of unleaded gasoline has soared to 1.75 euros per liter in Greece.

With Iranian crude accounting for a third of the countryís oil imports, its substitution from the EU with oil from other sources is likely going to cost much more, with the burden to be passed on to consumers and enterprises.

Already these fears and the soaring of the price of oil internationally have sent the price of fuel at gas stations to unprecedented levels, with the Development Ministry showing no intention as yet of intervention.

Eight prefectures in the country now see their average price of unleaded gasoline ranging between 1.80 and 1.85 euros/l, while the record last week belonged to a station in Crete that charged 1.93 euros/l.

Similarly, the average price of heating oil has reached 1.05 euros/l, while there are many gas stations selling it for 1.20 euros/l.

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