Fuel prices set to increase as of June 1 following tax hike

Fuel prices in the Greek market are set to rise as of June 1 following a recent government decision to increase the special consumption tax (EFK) imposed on fuel.

The tax on unleaded fuel will be increased to 700 euros from 670 euros per 1,000 liters. This will result in an increase of about five cents per liter for unleaded fuel at the pump, from the current aveage of 1.35 euros per liter to 1.40 euros per liter.

In the diesel category, the special consumption tax will increase from 330 euros to 410 euros per 1,000 liters, which will result in a hike of eight cents per liter, from one euro per liter to 1.08 euros per liter.

As for heating fuel, the special consumption tax will increase from 230 euros to 280 euros per 1,000 liters, leading to a retail price increase of six cents per liter, from 75 cents per liter to 81 cents per liter.

The tax imposed on auto LNG will be increased from 330 euros to 430 euros per 1,000 liters.

Natural gas used at gas-fuled power stations will be exempted from the special consumption tax as a measure aiming to support the country’s industrial sector.