Fuel prices: unleaded reaches €2.15 a litre
Energy prices are coming under renewed pressure as international oil and gas markets continue to rise, with Brent crude climbing above $108 a barrel, its highest level in four months.
Natural gas prices are also surging, with the benchmark price on the Dutch exchange approaching €84 per megawatt-hour. The annual increase has now exceeded 161%.
Disruptions raise supply concerns
The latest surge has been attributed in part to Saudi Arabia’s decision to suspend operations of its East-West pipeline, which has a capacity of around 7 million barrels per day, following drone attacks.
At the same time, tanker traffic through the Strait of Hormuz and the Red Sea has fallen sharply, increasing concerns over energy supplies and costs.
Fuel prices rise in Greece
The international increases are already being reflected at Greek fuel stations.
Unleaded gasoline is leaving refineries at around €1.60 per litre, while diesel is priced at approximately €1.55. Further increases are expected.
The average nationwide retail price of unleaded gasoline has reached €2.15 per litre, while diesel has risen to €2.11.
Finance Minister and Eurogroup President Kyriakos Pierrakakis told ANT1 that the government would support consumers if necessary, stressing that both national and European mechanisms are available to address the impact of rising energy costs.
Electricity prices also climb
Wholesale electricity prices in Greece are expected to reach €170 per megawatt-hour on Tuesday, Sept. 15, significantly above the August average of €133 per megawatt-hour.
Environment and Energy Minister Stavros Papastavrou left open the possibility of additional support measures for electricity consumers.
He stressed, however, that the long-term solution to keeping electricity affordable lies in expanding renewable energy production.
The government’s goal, he said, is for businesses, households and apartment buildings to be able to generate the energy they consume, describing the approach as “energy democracy.”
Greece seeks greater energy independence
Geopolitical instability and disruptions along major energy routes are increasing pressure on countries to strengthen their energy independence.
Greece is seeking to reduce its exposure to international energy shocks by expanding renewable energy production and increasing domestic generation capacity.
The latest price increases are expected to add further pressure on household budgets and businesses as concerns grow over the duration and impact of the international energy crisis.
Source:ERT
