BUSINESS

Heating oil starts trading at 93-94 cents per liter

CHRYSSA LIAGGOU

TAGS: Energy

The weather forecast may well see a temperature high of 26 Celsius in Athens this weekend, but Saturday will still see the start of heating oil trading across Greece for this winter.

Its average price ranges around 93-94 cents per liter, against 85 cents on October 15, 2015, and 75 cents in April 2016. For those entitled to a heating oil benefit, the cost drops to around 68-69 cents/lt.

The rise in the retail price is the result of the increase in global oil prices, as well as the hike of the Special Consumption Tax from 23 cents per liter to 28 cents/lt as of Saturday, and of the value-added tax on the fuel by one percentage point to 24 percent.

Taxes account for 54 percent of the retail price.

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