Fuel prices shoot up in Greece as new taxes worsen trend

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Fuel prices shoot up in Greece as new taxes worsen trendFuel prices in Greece have moved upwards over the last month of 2016, with six to eight cents per liter recorded

Fuel prices in Greece have moved upwards over the last month of 2016, with six to eight cents per liter recorded, while increased consumption fees for 2017 are set to kick in on Jan. 1, 2017.

Increases of 10 to 15 cents per liter are expected, on everything from regular unleaded gasoline to diesel.

Based on the latest figures posted by an observatory for liquid fuels, the average price for unleaded in the country between Nov. 18 and Dec. 26 has risen by 6.9 cents per liter, with the average price now hovering at 1.487 euros per liter.  

For diesel, the average price hike over the same period is six cents, with the average price touching 1.178 euros per liter. In terms of heating oil, the average price hike is between seven and eight cents, reaching the stratospheric -- by Greek standards -- price of 0.974 euros just after Christmas.

The trend is only expected to be exacerbated after the New Year with higher taxes coming on line, part of the 2016 "tax tsunami" initiated by the leftist Greek government in order to meet fiscal targets of the third bailout memorandum -- which it signed and ratified in August 2015.

Read more here.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinations Greek travel marketGreek tourism statisticsGreek tourism report

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