ECONOMY

Fuel price ceiling on islands

Gas stations on the Dodecanese, Cyclades and Chios have been imposed a ceiling on the price of unleaded gasoline as of Saturday morning.

The Development Ministry said on Friday that the ceiling stands at 1.704 euros per liter for the Dodecanese, 1.705 euros/l for the Cyclades and 1.719 euros/l for Chios, and will apply for as long as deemed necessary.

The decision, which drew the wrath of national federation of fuel station owners as being ?unacceptable and selective,? was based on the opinion of the Regulatory Authority for Energy that found retail prices on those islands to be unjustifiably high even though they have a reduced value-added tax, at 16 percent, against 23 percent on the mainland.