Greece Braces for Costly Winter as Energy Prices Soar
Fuel and electricity prices in Greece have skyrocketed, leaving consumers worried about a costly winter. The price of gasoline has surpassed €2 per liter at the pump and in the supply chain, with diesel prices also expected to rise significantly due to international market fluctuations.
The current energy crisis is largely attributed to the ongoing conflicts in Iran, which have led to a 22.7% increase in gasoline costs and a 34.7% surge in diesel prices since the start of the war. Heating oil prices are expected to jump by 65-70% compared to last winter's levels.
Natural gas prices at the TTF benchmark remain above €80 per megawatt-hour, contributing to higher electricity costs across Europe and Greece. The average wholesale electricity price in Greece reached €186.76 per megawatt-hour before easing to just above €170 on Sunday.