Where to find cheap fuel in Greece tagged: , , , , , ,

Where to find cheap fuel in Greece

Posted by in Economy

Greece has the sixth highest gasoline prices, according to a survey conducted by Market Monitoring Agency for news agency Bloomberg. Out of 60 countries surveyed by Bloomberg, Greece was found to have the sixth highest gasoline prices and the third-highest in Europe. All these despite dramatic income decreases.

The average price is now 1.745 euros per liter, or about $8.80 per gallon, according to a report by the Market Monitoring Agency. Much of that, or, 1.019 euros ($1.36) per liter is taken in taxes, increased by big hikes in the fuel tax.

Using prices in the period from January 3 to 18, the Bloomberg survey showed that Greeks have to spend some 15 percent of their daily wage in order to purchase one liter of gasoline.

Greece

Price per gallon of gasoline: $8.62

Rank by most expensive gas: 6

Rank by pain at the pump: 21
The Greeks’ middling pain at the pump score is worsened by the amount they consume. They spend more of their income on gasoline than any country in the ranking: 4.8 percent.

Wages in Greece declined this year amid the ongoing financial crisis, compounding the pain of rising gas prices. Since 2009, Greece has raised gasoline taxes to the third-highest in Europe.
The average Greek earns $58 a day. The share of a day’s wages needed to buy a gallon of gas is 15 percent.

The situation is almost worse in Portugal, another austerity- and IMF-hit EU country.

Portugal

Price per gallon of gasoline: $8.82

Rank by most expensive gas: 5

Rank by pain at the pump: 17
Taxes account for 64 percent of the price of gas in Portugal. That’s higher than in neighboring Spain, leading many drivers to cross the border in search of a cheap fill.

Frustrated about fuel prices in Greece?

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