Olive oil is a cornerstone of Greek diet and culture. With prices on a downward trajectory in 2025 after the historic surge of 2024, many families are wondering how much “liquid gold” will cost them this year.
Read: Olive oil: First official price for this year announced, where it ranges (Video)
How much olive oil does a Greek family use?
According to official data and industry research, a four-member Greek family consumes on average 60-80 liters of olive oil annually. More specifically:
Average consumption: 51-68 liters (3-4 cans of 17 liters)
High consumption: Up to 80 liters for families that cook traditionally
Greece holds 2nd place worldwide in per capita olive oil consumption with 11 kg per resident annually, with Spain in first place with 11.2 kg.
Olive oil prices in 2025
According to official announcements this week (October 2025), olive oil prices show a downward trend:
Producer prices
Extra virgin olive oil new harvest: €7.85/kg (starting price from A.S. Agios Apostolos auction, October 4, 2025)
Conventional fresh olive oil: €5.00-5.50/kg (expected producer prices)
Retail prices in supermarkets (October 2025)
For well-known Extra Virgin brands:
Regular price: €10.7/liter (down from €12.5 in 2024)
On sale: €6.9/liter
Price drop: -17% from early 2025, -23% compared to last year
For private label Extra Virgin:
Average price: €7.90/liter (down from ~€12 in 2024)
How much will olive oil cost a family in 2025?
Based on annual consumption of 60 liters (average for a four-member family), the cost is as follows:
Scenario 1: Purchasing from supermarkets
Extra Virgin well-known brand:
Regular price (€10.7/liter): €642 per year
With offers (€8-9/liter): €480-540 per year
Private label (€7.90/liter):
€474 per year
Scenario 2: Direct purchase from producer/merchant
With average wholesale price €7-9/liter:
€420-540 per year
Scenario 3: Purchase in cans (17 liters)
For 4 cans (68 liters):
With average can price €120: €480 per year
Why are prices decreasing in 2025?
The price drop is due to:
1. Increased production: Excellent flowering in Greece and Spain
2. High stocks: Inventories cover 50% of production
3. Market normalization: Correction of historically high 2024 prices
Money-saving tips for families
5 ways to reduce costs:
1. Buy in cans: More economical option compared to small packages
2. Monitor offers: In supermarkets prices can drop up to -35%
3. Direct purchase from producer: Save retail margins
4. Choose private label: Quality at lower price
5. Store properly: Keep oil away from light and heat
Prospects for the rest of 2025
According to industry estimates, prices are expected to remain stable or slightly declining until the end of 2025, barring unexpected weather events. Good production and adequate stocks ensure market stability.
In 2025, a typical Greek four-member family will spend approximately €420-640 on olive oil, depending on the purchase source and type. The 20-30% price reduction compared to 2024 offers relief to households, while Greek extra virgin olive oil remains affordable and of superior quality.
