The “traditional” speculation ahead the Greek Orthodox Easter holiday drove the petrol prices sharply higher, with the average unleaded petrol price standing at EUR0.979 per litre on March 30, rising 1.77% in a week time. On March 23, the respective figure was at EUR0.962, taking price samples from 2,300 petrol stations across Greece.
Greece has a bad record on overpricing fuels and there have been appeals in the past for violating consumer rights.
There are already reported cases of petrol stations in the province or on the national motorways where the price of the unleaded has been recorded at EUR1.22 per litre ahead of the Easter exodus.
Industry observers note that the real international oil prices have a little impact on the final domestic petrol prices. The price of diesel and unleaded petrol are affected almost by 70% from a number of other factors such as national tax rates, companies and petrol stations profit margins, which are the main reason behind the big variations on the final fuel prices.
Development Minister’s attempt to “sweeten the pill” saying that “ the price of the PLATTS FOB MED has been risen by 123.54% since the beginning of the 2004, while the price of the unleaded has just risen 33.93% over the same period in Greece appears totally unconvincing, as nowhere in Europe a rise in international oil prices was fully incorporated in the final price of the product.