The first fuel price increases due to the conflict in the Middle East are beginning to affect the Greek energy market. The escalation of hostilities between Israel and Iran is causing significant fluctuations in fuel prices, while natural gas and electricity costs are also rising.
Brent oil surge triggers fuel price increases
The approximately 5% increase in Brent oil to $74.23 per barrel last Friday, June 13, compared to $70.78 per barrel, triggered the first wave of price hikes at refineries and petroleum trading companies. According to estimates, the first fuel price increases in the domestic market took effect from Monday, June 16, calculated at €0.02 per liter for both gasoline and diesel prices.
Fuel prices and market forecasts
The president of Attica gas station owners, Maria Zanga (photo), confirmed the fuel price increases, stating to MEGA: “Some went up by 10 cents. The Development Minister said there would be inspections. Inspections were carried out, they caught some stores and now they will rely on the price ceiling.”
National average fuel prices show the following picture:
- 15/6/2025: Unleaded gasoline €1.739/liter, Diesel €1.484/liter
- 13/6/2025: Unleaded gasoline €1.737/liter, Diesel €1.484/liter
Analysts estimate that the peak of the price increase wave will reach Wednesday, June 18, with increases ranging from €0.02 to €0.04 per liter at gas stations.
Middle East conflict impact on natural gas and electricity
The Middle East conflict affects not only fuels but also other forms of energy. Natural gas is recording a rally to a 10-week high for TTF, exceeding €39/MWh. Meanwhile, electricity shows significant increases in wholesale prices. Yesterday and today, prices moved above €90/MWh, compared to €65/MWh recorded on Saturday, June 14. Developments in the Middle East continue to impact the global energy market, with direct consequences for the Greek economy and consumers.
