BUSINESS

Price of heating oil seen starting at 1.02 euros/liter

TAGS: Energy

The price of heating oil, which will go on sale nationwide on October 15, is expected to start at 1.02 euros per liter, according to the estimates of sellers based on international oil prices and the euro/dollar exchange rate.

This year’s prices are seen averaging out at around 1.10 euros per liters, down from last year, when the season started at 1.15 euros per liter and ended in April 2019 at 1.08 euros/liter.

Speaking to an event of the Hellenic Petroleum Marketing Companies Association (SEEPE) on Monday, its president, Yiannis Aligizakis said that the cost of heating oil has dropped 70 percent since the start of the Greek crisis, noting that a further reduction could be secured by cutting the special consumption tax, which is currently at 28 percent.

He also recommended that a heating oil subsidy for impoverished households be expanded to include taxpayers and families declaring an income of up to 50,000 euros a year from last year’s benchmark of 12,000 euros.

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