RAE, Greece’s Regulatory Authority for Energy, has proposed price ceilings for unleaded 95 octane fuel in 17 regions around the country where it has been found that at least 70 percent of petrol stations are selling fuel at excessive price levels.

Formulae factoring in related data have been applied by the authority to determine and set price ceilings for the 17 areas, most of which are islands. RAE’s proposal has been forwarded to the Ministry of Economy and Development and the Ministry of Finance.

The RAE study proposes price ceilings for Grevena, Evritania, Kefallonia, Fokida, Rethymnos, Corfu, Lefkada, Kilkis, Zakynthos, Thesprotia, Samos, the Cyclades, Chios, the Dodecanese, Arcadia, Rodopi and Kastoria. Price ceilings per liter of unleaded fuel have been calculated for each of these areas.

According to the proposal, these fuel price ceilings should remain valid until September 30 and be revised weekly.

RAE did not find any pricing irregularities in the refining and wholesale sectors.