ECONOMY

Heating oil cost expected to drop further this winter

heating-oil-cost-expected-to-drop-further-this-winter

The cost of heating oil is expected to open lower at the start of sales this year compared to last, thanks to the continued drop in international oil prices.

Heating oil will go on sale at the country’s supply stations on October 15 with an estimated starting price of 0.85 euros per liter, lower than the 1-1.10 euros/liter that consumers were paying in mid-October last year, state news agency AMNA reported on Tuesday.

Petrol sellers say that if the tax on heating oil remains unchanged from last year at 0.23 euros/liter, consumers can expect to make significant savings this winter.

It was not clear, AMNA said, whether households that are eligible for heating oil subsidies will be getting the same refund they did last year, which came to 0.35 euros per liter, as Greece’s creditors have demanded that the government slash this expense by 50 percent.