ECONOMY

Sufficient energy supply is secured

sufficient-energy-supply-is-secured

The government’s protection measures have led to a 20 percent drop in demand for gasoline from last year, while the market estimates that, as the measures get stricter, the reduction will reach 40-50 percent in April. The fuel market is buoyed by demand for heating oil, which has grown 20 percent as a result of the drop in rates and in temperatures and due to the fact that Greeks are spending more time at home.

Drivers who are still buying gasoline are taking advantage of the low prices, thanks to the drop in global oil rates. The average rate of gasoline has fallen from 1.593 euros per liter on March 1 to 1.489 euros/lt on Wednesday, while heating oil has seen its rate fall from 1,002 euros/lt to 0.912 euros/lt.

Demand for electricity has fallen due to the closure of many businesses with high consumption, such as malls, hotels and restaurants.