Gasoline prices could rise above €2.15 in September

Gasoline prices in Greece could remain above €2 per liter in September and rise further if global crude oil prices increase, fuel retailers have warned.

The national average for unleaded gasoline is already above €2 per liter, while diesel prices are also elevated. The outlook is raising concerns over household costs as the summer travel season ends and people return to major urban centers.

Nikos Papageorgiou, president of the Attica Fuel Station Owners and Fuel Traders Association, outlined three possible scenarios for fuel prices in early September in comments to Greek broadcaster MEGA.

Subsidies could limit price increases

The first scenario depends on whether fuel subsidies continue.

Papageorgiou said Greece's two refineries could continue subsidizing gasoline and diesel, helping contain the prices paid by consumers. The government is also expected to continue providing support for diesel, based on current market expectations.

The impact of any subsidy changes will therefore be a key factor in determining pump prices in the coming weeks.

Brent at $90 keeps gasoline near €2

The second scenario depends on global crude oil prices, particularly Brent.

Papageorgiou said refined gasoline and diesel prices do not move mechanically in line with Brent crude, particularly for diesel and other refined products.

If Brent remains around $90 per barrel, gasoline prices are expected to stay close to €2 per liter, potentially falling slightly below that level.

$100 oil could push gasoline to €2.15

The most severe scenario would arise if crude oil prices climb to $100 per barrel.

In that case, Papageorgiou said gasoline could reach approximately €2.15 per liter, while diesel could rise to between €2.15 and €2.20 per liter.

“These are the three scenarios we expect to see from September,” he said, stressing that forecasts beyond the short term remain uncertain.

“We don’t have the ability to say what will happen after two months,” he added.

Taxes account for about 60% of fuel prices

Fuel prices in Greece are also heavily influenced by taxation.

About 60% of the final price paid at the pump consists of indirect taxes, including the Special Consumption Tax and value-added tax.

The combination of global oil prices, refinery support and government subsidies will determine the direction of fuel prices as Greece enters September, with consumers remaining exposed to further increases if crude oil prices ris

Source:tovima