ECONOMY

Gas up 12.5 pct from last year

The price of gas has gone up 12.5 percent in relation to the same period last year, according to a report released on Wednesday by the Greek consumer group ELKEKA.

Specifically, the report cited that the average monthly consumption for a 1,400 cc vehicle doing 1,250 kilometers a month and consuming 9 liters of unleaded fuel per 100 kilometers, will go up from 176.33 euros for the month of March in 2011 to 198.68 euros this March, with the average price of gas at 1.766 euros a liter.

This, says the report, represents an increase of 12.5 percent year-on-year.

Moreover, ELKEKA said, Greece ranks second among European Union countries with the highest fuel prices, led by the Netherlands and Italy, where the average price of gas is 1.80 euros a liter, compared to the overall EU average of 1.54 euros/liter.