Despite the rising temperatures Greeks ‘froze’ on Monday morning to hear that heating oil price will go up by 40%. Due to the so-called equalization of the tax for heating oil, one liter will cost €1.45-€1.47 as of next October. One liter costs one euro today. As heating oil is distributed from October to April, many consumers rush to fill up their home tanks and save some hundred euros.
The profit is immense. For 1,500 liters today, one will have saved 600 euro in October 2012. The question is where to find the 1,500 euro to pay the heating oil nowadays.
Nevertheless consumers can buy with the old prices until April 30, 2012.
Next October… Boy that’s a long way away. Diesel might be 60 cents by then, because of sharply falling oil prices. The next government might scrap this measure and implement a real system to monitor the massif fuel smuggling and criminal behaviour around oil. Or Hell might freeze over… 😉