Fuel prices have skyrocketed to alarming levels, leaving drivers in despair as unleaded petrol nearly reaches €2.20 per liter. Prices surged following the war in Iran, as just one year before the Middle East crisis escalated, unleaded petrol was priced at €1.75, premium unleaded was just below €2.00, and diesel stood at €1.54 per liter.
Read also: Mitsotakis: National intervention on heating oil next week with price below €1.75 — Across-the-board heating allowance increase, fuel price cap returns
Fuel price explosion: Increases ranging from 11% to 30%
Fuel prices have caught fire, as according to a Mega TV report, at the start of July drivers were finding unleaded petrol just above €1.90, premium unleaded at nearly €2.17, and diesel at €1.64 per liter.
In just two and a half months, prices have shot up to €2.17 for regular unleaded, over €2.40 for premium unleaded, and €2.15 for diesel. These represent increases of between 11% and 30%, with professional drivers stating they are unable to cope with the rising costs.
Oil and natural gas prices also hit record highs
The steep price hikes are not limited to fuel alone, as Greek households will also need to dig deep into their pockets this year for heating oil and natural gas.
Based on current data, heating oil prices are expected to start at €1.80–€1.90 per liter, up from approximately €1.10 last year — an increase of €0.70–€0.80 per liter.
Government interventions on heating oil and fuel prices
Prime Minister Kyriakos Mitsotakis has announced a government intervention aimed at keeping the starting price of heating oil below €1.75 per liter, along with an across-the-board increase in the heating allowance. Speaking in his first comprehensive interview following the Thessaloniki International Fair, on the ERTNews evening bulletin with Panagiotis Stathis, the Prime Minister outlined support measures for households ahead of the winter season. He indicated that the government is leaning toward a universal increase in the heating allowance, while leaving open the possibility of intervening in profit margins and, if necessary, implementing a temporary emergency reduction in the Special Consumption Tax.
The measures are expected to be formally announced next week.
