ECONOMY

Fuel traders’ sales volume posts big drop

The sales volume in the fuel trading sector showed a 28 percent yearly decline in 2012, according to a study by the Foundation for Economic and Industrial Research (IOBE).

This came after a 5.1 percent decline in 2011 from the year before.

The sector posted net losses of 81.7 million euros in 2012, against 46 million euros in the previous year.

The study attributes the decline to the considerable increase in the special consumption tax on heating oil as of last October, the mild winter and the deepening recession in general.