ECONOMY

Price cap on gas continues to fuel protests

The average price of unleaded gas declined between 1 and 6 cents per liter on Friday in the prefectures where a rate ceiling was imposed this week, but gas station owners failed to reach an agreement with the Regional Development Ministry about how the price cap should work.

Market professionals are calling for a cap on prices all along the supply chain and not just on the retail price, suggesting that the current ceiling is illegal and that they shouldn?t have to to adhere to it.

While Samos gas stations reopened on Friday after closing earlier, those on Santorini remain closed for the time being. The Cycladic island belongs to one of the 13 prefectures where the ministry imposed the price cap.

Nevertheless the average price of unleaded gas across Greece showed no more than a marginal decrease from 1.720 euros per liter on Wednesday to 1.717 euros/lt on Friday.