Fuel price surge in wake of Iran conflict costs Greek consumers over €400 million in two months

The further outgo that consumers paid for substance (gasoline, diesel and heating oil) successful the archetypal two months of the struggle successful Iran is estimated astatine implicit €400 million. This is peculiarly worrying, arsenic the fragile ceasefire successful the Middle East is astatine a captious constituent and planetary lipid prices person been steadily moving supra $110 per tube successful caller days.

At the aforesaid time, state coffers were strengthened with surplus gross from taxation connected the highest prices calculated cumulatively for March and April astatine implicit €90 million, an magnitude that falls conscionable €15 cardinal abbreviated of the total nationalist expenditure for the two-month diesel subsidy (20 cents/liter successful April and May).

In March, consumers successful Greece – according to estimates by substance trading companies based connected authoritative information from the Environment and Energy Ministry connected depletion of gasoline, diesel substance and heating diesel – paid astir €170-185 cardinal much for substance acquisition than they would person paid astatine prices earlier the start of the war successful Iran.

March’s surplus gross from substance depletion tax is estimated astatine €35-38 million. Consumption of centrifugal fuels (gasoline and diesel) successful March moved astatine astir the aforesaid levels arsenic those of March 2025, adjacent signaling a marginal summation of 0.7%. The objection is heating oil, with income expanding by 8.5% compared to the aforesaid period past year, which means that consumers, fearing hikes, rushed to stock up for the caller winter season.

In April, with 2025 depletion arsenic a notation constituent (official information is announced by the National Economy and Finance Ministry connected May 20), the load connected consumers from the terms summation was astatine slightest €250-260 million, since unofficial information connected income by trading companies amusement accrued consumption. Accordingly, the surplus gross for the state successful April is estimated astatine €54 million.

The terms of gasoline astatine the pump, from €1.75/liter 1 time earlier the war successful Iran , jumped to €2.06/liter past Friday, signaling an summation of 18.1%. Accordingly, the terms of diesel substance from €1.56/liter reached €1.88/liter connected Friday.