The sale of heating oil to households began on Friday with a last minute surprise discount of 6 cents per liter by the Hellenic Petroleum refineries (ELPE).
The price was supposed to at 1.42 and 1.45 euros per liter, and after the discount is reportedly below 1.40. Nevertheless, it is clearly more expensive on the islands due to high transport cost.
Following the ELPE decision last night, heating oil leaves the refinery by 7.5 cents per liter – that is: 6 cents + Value Added Tax- , with the first estimates placing its price below €1.4 media reported.
Depending on the commercial policy of each distribution company or gas station owner, the price could reportedly be €1.37 to €1.38 per liter.
Last year at this time, when the distribution of the heating oil started, its price was €1.16/l, while before the end of the winter season the price of heating oil reached €1.60/l.
will begin on Friday, at a time when international prices for oil and the exchange rate for the dollar have been fluctuating sharply. Consumers will be supported by a subsidy of 0.25 euros per litre announced by the government, as well as heating benefits for individual, eligible households.
Demand is initially expected to be low due to the high prices and relatively warm weather.
Based on the price for natural gas announced on Thursday, the initial price for heating oil is forecast to be 20% higher.
Even though there is a state subsidy of €0.25/l many consumers who wanted to fill their heating oil tanks in advance for this winter do not do so.
At the same time there reportedly also an obvious concern, and this is because there is a huge difference between the sale price for diesel for driving and for heating oil, which, based on today’s data, is close to 70 cents per liter.
Market players express fears that there may be an increase in smuggling or the use of heating oil for vehicles in the near future.
On Thursday, the average price for diesel was €2.107 per liter and for gasoline €2.031.
At the same time, international oil prices after two days of decline yesterday returned to an upward trajectory and Brent reached 94.6 dollars per barrel.
According to the Finance Ministry, a ministerial decision is being currently drafted to determine the criteria, the conditions, the beneficiaries, the lower and upper amount of the heating allowance for the upcoming winter.
The decision is expected to be issued in the coming days, while the platform myHeating for submitting applications is scheduled to have opened by the begin of November.
