The downward path followed by prices during September is reflected in the data of the Liquid Fuel Price Observatory of the Ministry of Development.
It is characteristically stated that the average cost of unleaded gasoline started on 1.9.2024 from 1.81 euros per liter, for diesel from 1.57 euros and for LPG from 0.86 euros.
Oil
The price of Brent, which is a key – but not the only – factor in the formation of fuel costs, also moves downwards in September. On 2.9.2024 its price “locked” at 77.52 dollars per barrel. Almost a week later (10/9) it fell to 69.19 dollars per barrel and during the last days it is at the level of 72-73 dollars per barrel.
Brent’s slide is a result of the turmoil in the market, as concerns have intensified about subdued demand in major economies at a time when there is ample supply. Fears of weaker demand in top oil importer China (it has already switched to other fuels, eg natural gas), for example, weighed on market sentiment. OPEC and its allies (OPEC+), for their part, have postponed production increases.
Consumers are the big winners from these developments, as they see the prospect of ever-lower fuel prices emerging.
Estimates
Morgan Stanley forecasts prices at the levels of $75 per barrel, on average, for the last quarter of 2024 (up from $80 previously). Goldman Sachs expresses for 2025 estimates for prices at the level of 80 dollars per barrel (annual average).
And Citi speaks of a drop in prices even to the level of 60 dollars per barrel for 2025 (in the worst case scenario for oil producers), in the event that OPEC does not make new production cuts, considering that the demand from the major economies will be decreasing.
The international ranking
With these data, Greece has fallen to 13th place in the list of countries with the most expensive gasoline worldwide. Its price was 1,770 euros per liter, according to the international platform Global Petrol Prices (last data available 9/9).
The most expensive gasoline is sold in Hong Kong (2,966 euros per liter). Followed by Monaco (2,130 euros), Iceland (2,019 euros), Liechtenstein (1,939 euros), Switzerland (1,928 euros), Singapore and the Netherlands (1,910 euros), Barbados (1,897 euros), Denmark (1,884 EUR), Israel (EUR 1,817), Finland (EUR 1,781), etc.
Complaints
It is noted that through the e-consumer application/electronic platform one can locate the current price at various gas stations across the country. Consumers can be informed about issues related to their protection through line 1520, as well as submit complaints about violations of consumer law at the email address:
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Gasoline costs €1.70 in Athens
The average price of unleaded gasoline in the major urban centers (Athens and Thessaloniki) is 1.70 euros per liter, while in Patras it is sold for 1.75 euros per liter, according to the latest available data (16/9) from the Observatory Liquid Fuel Prices of the Ministry of Development.
Even in several islands, where the average cost usually exceeds 2 euros per liter, it is now below this “barrier”.
More specifically, in the Dodecanese the average price of unleaded gasoline is 1.92 euros per liter, while in Zakynthos, Heraklion, Corfu and Lasithi it is even cheaper (1.80 euros per liter). In Kefalonia and Lesbos the cost is 1.84 euros, in the Cyclades at 1.999 euros, in Lefkada at 1.83 euros, in Rethymno at 1.81 euros, in Samos at 1.82 euros, in Chania at 1.78 euros and in Chios at 1.74 euros.
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