Greece is still in the top four European countries with the highest fuel price, and as it is known, it is primarily due to taxation, which represents more than 50% of the final price.
The rally recorded by the oil price in recent months is pushing upwards, and this in turn increases prices in Greece, which is a country of import of fuel. However, the summer season is at the doorstep and expensive fuels tend to act as a deterrent to travel despite the increased tourist traffic that the country is expected to have.
Last year, businesses in the industry have been tested by the strong drop in demand during the summer months, many businesses have already been locked and time is at the expense of the market, especially when nothing is done (such as tax cuts) to change this.
The average retail price of gasoline in Greece is € 1,645 per liter and diesel oil reaches € 1,418 per liter.
Of course, prices in tourist areas are increased for another year. Based on the average retail price that was in force at the end of the week that passed through the Dodecanese, Kefalonia, Lesvos and mountainous regions like Evritania are counting on cases where gasoline is sold for more than 2 euros per liter.
According to globalpetrolprices.com , the average price of gasoline worldwide is $ 1.14 per liter. However, there is a significant difference in prices between countries. As a general rule, richer countries have higher prices, while poorer countries and oil-producing and exporting countries have significantly lower prices. A notable (positive) exception is the United States, which is an economically advanced country but has low gas prices. Differences in prices between countries are due to various taxes and subsidies for gasoline. All countries have access to the same oil prices on international markets, but then decide to impose different taxes. As a result, the retail price of gasoline is different.
On the other hand a remarkable (negative) exception is Greece as the price is subject to various charges. According to SEAP, retail gasoline prices in pumps are about 70% of taxes and duties, including:
- The Special Consumption Tax at a fixed amount (€ per 1000 liters): Gasoline 670 Euro, Motor Oil 330 Euro, Heating Oil 280 Euro, Liquefied Petrol 330 Euro, Domestic Gas LPG 60 Euro, Liquefied Petroleum Industry 120 Euro.
- VAT 24%
- DETE 0,05%
- The special contribution of 1.2% (of Law 3054/2002)
- The end of RAE is € 0.20 / liter
The retail prices and thus the gross profit margin of the Companies and Stores – in addition to the cost of the product – include:
- Transport costs (tank cars).
- Financial costs (inventory costs, credits, investments, etc.).
- Marketing costs (customs clearance, storage and handling, etc.).
source – insider.gr