“Our federation claims legitimacy and justice in the market. This is recorded, we do not need to explain it and we are clearly waiting for an assessment from the Ministry of Finance. We made an important proposal so that the allowance goes to the pump and not to those who accept it or not”, pointed out the president of the Panhellenic Federation of Fuel Dealers, Themis Kiourtzis, speaking on the ERTNews show “Update”, on the occasion of the letter from POPEK to the Ministry of Finance, which proposes subsidizing heating oil directly at the pump.
Mr. Kiourtzis said: “This helps businesses, it reduces the cost of money. We have a benefit of around 1,700,000 euros, less commissions in the bank and the state will not give a drachma more than what it has budgeted. In the event that this is not accepted, it should definitely be explained to us why it is not possible.”
Among other things, he noted that “On October 15, the distribution of oil begins – this is always the starting date, and we are curious to see what prices we will have at the refineries to sell the fuel to consumers (…) We are interested in fuel to be as cheap and clean as possible”.
Among other things, he added: “Last year, 247 million euros were calculated for oil, as a heating oil allowance. 76 million less were given. We made the forecast last year as well that this amount, because we will have reduced consumption, will correspond to approximately 24 cents, 240 euros per ton per cubic meter less. “So this year with the same money, since 76 million were left over, the state should be able to give it and the price should be around 90 minutes according to today’s data”.
Concluding his presentation, he noted: “Refineries adjust their prices daily, either up or down and so do the gas stations and fuel traders. We don’t seem to have anything very important in the market that will dramatically affect it and move it higher.
Maybe the prices are stabilizing – these international prices that the refiners follow – and the traders follow in relation to the consumer and we hope that we will not have dramatic situations. But if the state adopts our point of view, we will have a very good price for consumers.”
What do analysts say?
It is worth noting that, as the Free Press wrote this morning, if the supply of heating oil started today, it would be sold at pre-coronavirus levels.
Market analysts speak of a cost of 1.10 euros per liter in urban centers (Athens and Thessaloniki). Correspondingly, on an island of the Cyclades, where transport costs are at an average level – not too high, but not too cheap either – the price of heating oil would be 1.26 euros per litre. There are, however, some islands where the price would vary below 1.26 euros per liter, while in others it would exceed 1.30 euros per liter.
It is noted that in October 2018 heating oil “premiered” with 1.134 euros per liter in Athens and 1.131 euros per liter in Thessaloniki. Accordingly, in October 2019 its price was 1.016 euros per liter in Athens and 1.028 euros per liter in Thessaloniki. Shortly before the second lockdown, in October 2020, prices had fallen steeply, reaching 0.776 euros per liter in Athens and Thessaloniki.
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