Fuel stations take their time adjusting to lower oil prices
As most drivers have already noticed, when global gasoline prices go up, the local market is quick to adjust its own; when they come down, however, the reaction tends to be much slower.
This was confirmed by a Bank of Greece study presented on Tuesday that covered the period from 2005 to 2012.
The study pointed to a business strategy whereby gas stations seek to increase their profit margins at the expense of consumers, as they delay lowering rates when global oil prices are reduced while upping their rates as soon as the cost of a barrel of oil rises.
Two people are in intensive care and another 11 are being treated for minor injuries after an explosion in a taverna on the island of Salamina, off the coast of Piraeus, on Sunday morning.
F...
A bomb went of on the street where the Greek embassy in Tripoli, Libya, is located but the building was not damaged and there were no injuries, the Foreign Ministry said on Saturday.
"This l...
Germany's Bjoern Otto recorded the world's leading performance in the men's pole vault at the Athens Street Pole Vault event that took place at Zappio, in central Athens, on Saturday afterno...
PAS Giannina upset PAOK at Thessaloniki on Sunday to take the lead at the Super League play-offs, while Asteras Tripolis rebounded from its loss at Ioannina in midweek to defeat Atromitos at...
Certain people have created a monster and now, when they observe it, they wonder what it is. Golden Dawn, along with all its slogans and behavior, is the work of many, not one single person....
The country has a unique opportunity to turn the page. Society has displayed incredible maturity and responsibility, despite all the hardships. Reforms which had been under discussion for de...
