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Greece’s Gasoline Fed warns of prices increases due to Persian Gulf crisis

The attack on the Saudi Arabia oil fields of Aramco have skyrocketed oil prices on Monday. Greek fuel traders warn of sharp increases in the price of fuel in the next days. A possible domino could bring also increases in the food prices.

“Gasoline prices could increase in the next four days,” the President of Greek Gasoline Federation, Giorgos Asmatoglou, warned on Monday.

“If the barrel exceeds $ 70 a barrel (today it is $ 67), this will have a negative impact on prices,” he said.

He estimated that the burden for the consumers will be high.

He pointed out that gasoline, currently at €1.60 could reach €1.65-€1.66 in the urban centers and even up to €2 on the islands

On the occasion, Asmatoglou reiterated the industry demand that the government abolishes the extra consumption levy on gasoline and other energy products.

Global energy prices spiked on Monday after a weekend attack on key oil facilities in Saudi Arabia caused the worst disruption to world supplies on record. President Trump has warned the U.S. is “locked and loaded” to respond as two of his cabinet members blame the attack on Iran.

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One comment

  1. Yimed this well haven’t they. Just before people are able to buy in their heating oil for the winter and now expecting 20% price rate. Wonderful.