Speaking to ERTnews, Nikos Papageorgiou, president of the Attica Association of Fuel Retailers, said he expected prices to stabilise slightly below €2.20 a litre next week, with unleaded petrol falling by around one to two cents.

He noted significant differences between urban centres and islands or remote areas. Prices in cities stand at around €2.16 a litre, while in island and remote regions they can reach €2.30 to €2.35 because of higher transport costs.

Papageorgiou argued that movements in Brent crude now account for only around 30% of the final price at the pump. He said geopolitical uncertainty and insufficient refinery production ahead of winter also play a significant role in determining prices.

The fuel retailers’ representative also expressed reservations about imposing a cap on profit margins, arguing that prolonged use of such measures can distort the market and encourage illegal practices. Instead, he called for tighter inspections, stronger action against fuel smuggling and a reduction in excise duty at European level.

Turning to heating oil, he estimated that if distribution began today, the starting price would be close to €1.95 a litre, which, he argued, makes state intervention necessary.

Panagiotis Georgiadis, public relations representative of the consumer organisation New INKA, warned of the risk of a ‘social explosion’, arguing that ‘Greek consumers are being asked to pay German prices on Greek salaries’.

Georgiadis questioned the effectiveness of measures taken so far, arguing that discounts announced by refineries had been ‘absorbed by the market’ and had not reached consumers.

To address the situation, New INKA proposed a package of emergency measures, including a cap on gross profit margins combined with a reduction in corporate income tax.

The organisation also called for direct, across-the-board subsidies for households, through measures such as a Fuel Pass or heating allowance, so that financial support reaches consumers directly.

______________________________________________

Are you seeking news from Greece presented from a progressive, non-mainstream perspective? Subscribe monthly or annually to support TPP International in delivering independent reporting in English. Don’t let Greek progressive voices fade.

Make sure to reference “TPP International” and your order number as the reason for payment.