Gasoline: Higher prices reduced Greek consumption

Last year saw a marginal increase in overall sales of liquid fuels in Greece, with the demand for gasoline moving downwards.

According to information, the increase compared to 2021 was of the order of 2% for all fuels, based on volume.

In the individual categories, it is worth noting that in terms of gasoline, due to the large increase in prices during 2022, sales decreased by 2%. However, this decline is much smaller than the price rally seen in 2022. The decline in demand for gasoline was mainly recorded in the last half of 2022.

Oil sales increase

On the contrary, an increase was recorded in the sales of oil. Diesel had higher demand by around 3.5% to 4%. It is attributed on the one hand to the increase in tourist traffic as well as to the high growth rates of the Greek economy.

The demand for heating oil was also great. Oil market sources estimate that in 2022 the increase was of the order of 6% compared to 2021.

As it became known from the Ministry of Finance, from January 1st the state subsidy for heating oil at the pump of 0.25 euros per liter was cut by 0.10 euros per liter. In addition, the discount of 0.04 euros per liter that the refineries granted to the petroleum trading companies in order to keep heating oil prices low ceased to apply as of January 1st.

These changes are not excluded to affect fuel prices in the event that crude oil moves upwards.