Gasoline prices exceed 2 euros per liter across Greece

The price of unleaded 95 octane gasoline has surpassed the 2-euro per liter threshold across Greece, according to data from August 19. The average weighted price reached 2.011 euros per liter, while 100 octane gasoline sold for even more, averaging 2.265 euros per liter.

Significant price disparities exist between different regions. The Cyclades islands recorded the highest average price for unleaded 95 octane gasoline at 2.262 euros per liter. Prices in the Dodecanese islands were also high, averaging 2.140 euros, followed by Kefalonia at 2.089 euros. In contrast, the lowest average prices were found in Imathia at 1.972 euros, Florina at 1.981 euros, and Boeotia at 1.983 euros.

Similar trends are observed for diesel fuel, with the nationwide average price at 2.012 euros per liter. Island prices are considerably higher, with the Cyclades reaching 2.247 euros and the Dodecanese 2.103 euros. The situation has prompted discussions about extending fuel subsidies, with Takis Theodorikakos, the Minister of Citizen Protection, leaving open the possibility of further government support.

Global oil prices have also surged, reaching three-week highs due to escalating concerns about supply disruptions in the Middle East stemming from the conflict with Iran. Brent crude for October delivery rose 2.7%, or $2.44, to $94.06 per barrel. West Texas Intermediate (WTI) crude for September delivery increased by $1.84 to $87.67, and WTI for October delivery gained 2.9%, or $2.41, to $86.80. These geopolitical risks are injecting uncertainty into the supply chain, pushing international prices upward.

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He left open the possibility for an extension of the subsidy on the price of fuel.