Heating oil: Prices at last year’s levels
The distribution of heating oil in the market will begin on October 15, with prices expected to remain close to last year’s levels based on current international rates.
The starting price is estimated at €1.11–1.12 per liter, compared to €1.10 in October 2024. However, the final figure will depend on developments in international markets and the euro/dollar exchange rate over the next two weeks until sales begin.
From January 1, 2026, following announcements made at the Selanik International Fair, a 30% VAT reduction will apply to an additional 19 remote Aegean islands. For heating oil, this translates into a price cut of roughly €0.07 per liter.
Currently, the reduced VAT rate of 17% instead of 24% applies to five Aegean islands İleryoz, Midilli, İstanköy, Sisam, Sakız (Leros, Lesvos, Kos, Samos, Chios). From 2026, it will extend to the municipalities of Leipsoi, Tinos, Eşekadası (Agathonisi), Herke (Chalki), Meis (Kastellorizo), Kelemez (Kalymnos), İncirli (Nisyros), Patmos, Sömbeki (Symi), Kerpe (Karpathos), Kasos, Astypalaia, Limni (Lemnos), Bozbaba (Agios Efstratios), Ahikerya (Ikaria), Fornoz (Fournoi Korseon), Koyun (Oinousses), Psara, and Semadirek (Samothraki) (including nearby smaller islands). The VAT reduction will also benefit other fuels, products, and services, provided the lower tax is passed on to consumers.
At the same time, the Independent Authority for Public Revenue (AADE) is preparing to open its platform for heating allowance applications.
Last year, nearly €200 million was distributed to 1.2 million beneficiaries. The allowance covers all heating sources (oil, natural gas, electricity, firewood) for primary residences and is granted based on income and property criteria, while the amount varies depending on local weather conditions (higher subsidies in colder regions).
Source: ANA-MPA
