Retail fuel sales rose by a marginal 2 percent in 2022, compared to the previous year, a rise attributed to higher auto and heating fuel demand.
Gasoline sales fell by 2 percent, compared to 2021, the biggest drop occurring in the second half of 2022, which, however, was offset by higher demand for diesel and heating fuel, market officials noted.
Demand for auto diesel increased by an estimated 3.5 to 4 percent, driven higher by the country’s continuing rise in tourism, as well as by the economy’s robust performance in 2022.
Heating fuel demand increased as a result of lower prices compared to other heating sources. Heating fuel sales increased by 6 percent as consumers rushed to make the most of government subsidies, ahead of cuts, and discounts offered by refineries.
The finance ministry cut heating fuel subsidies by 10 cents per liter, reducing state subsidies for this fuel to 15 cents per liter from 25 cents per liter.
Also, according to sources, Helleniq Energy, formerly ELPE, will not continue offering a discount of 0.0375 euros per liter for heating fuel to suppliers in the new year.
The combined effect of these revisions is expected to lead to a gradual rise of 14 cents per liter in heating fuel retail prices.