by Essence: Drivers can’t believe their eyes with the prices they see!
According to data from the Liquid Fuel Price Observatory, the average price of unleaded petrol fell by 0.121 euros per litre.
This decline is recorded from the high point of the year, which was April 16. Then the average price of unleaded was 1.948 euros per liter and on May 10, when the latest official data is available, it was 1.827 euros per litre.
Gasoline is at its lowest level since the beginning of the year.
Since last year, it is significantly cheaper.
Remember that in the spring of 2022 it was following an astronomical trajectory… well above the peaks… of 2 euros per litre. Indeed, on May 10, 2022, it was at 2,179 euros per liter.
Since last year, the price of unleaded has fallen by 0.352 euros per litre.
The continued decline in prices, as mentioned above, since April 16 is attributed to Brent falling from around $87 per barrel in mid-April to $77 today.
Estimates are mixed as to the future evolution of fuel prices.
Some analysts hope that the reduction will continue and be even greater if the scenarios of a recession in the international economy are finally confirmed.
On the other hand, there are also the estimates of the market leaders who note that as we approach the summer season and tourist traffic and transport will increase, the prices of liquid fuels will increase.
In this scenario, we would expect to see the reappearance of increases towards the end of May.
Gasoline prices in our country could be lower.
However, the participation of taxes in the formation of the final value does not allow the greatest de-escalation.
Taxes such as VAT, VAT and other fees and charges account for almost 60%.
Refineries determine about 34%, and the gross profit margin of trading companies and gas stations is about 6% to 7% of the retail price.
Greece is one of the most expensive countries in the EU when it comes to gasoline.
It is in fourth position with an average price on May 8 of 1,837 euros per liter.
In the first is Finland with 1,943 euros per liter, in the second Denmark with 1,912 euros per liter and in the third France with 1,871 euros per litre.
Gasoline: If you put in this time it will last you longer!
Fuel and petrol prices have risen again as drivers scramble to find ways to save money.
Surely you have read articles about the best time to have a meal, exercise, walk or swim.
But have you ever read anything about the best time to refuel?
According to the site “inmotionautocare.com” there are secrets that should not be overlooked regarding the fuel tank of your car.
Secrets that can save you gas and save your pocket.
- Add fuel when the fuel gauge is halfway up. The more fuel you have in the tank, the less air there is in its available space. Gasoline evaporates faster than you can imagine.
- Do not refuel if the gas station has already been refueled by the tanker. It is very likely that the fuel has been mixed.
- In spring and summer, we fill the vehicle with gasoline early in the morning, because the ground temperature is low. At all gas stations, the tanks are underground. Thus, the colder the ground, the higher the density of the fuel. If you fill up in the afternoon or evening, your liter will not be exactly one litre.
- When refueling yourself at a self-service gas station, do not put the pump on high speed.
Essence: How will you know you’ve received adulterated essence?
The consequences of using adulterated fuel can even be disastrous for an engine, and the sooner a driver finds out, the better.
All the details on xristika.gr.
With fuel prices remaining at high levels, finding a gas station with the lowest possible prices is common practice for the majority of drivers to reduce the cost of driving.
However, consumers must always be vigilant and cautious in their choices because the phenomenon of falsification of fuels is on the prowl.
Frequent quality checks carried out by large, well-known gas station chains go a long way in providing drivers with peace of mind and relative confidence.
Conversely, the cheapest fuel from dubious filling stations can turn out to be much more expensive in practice, due to tampering and the damage it can cause to the engine.
Here are the basics that can be done to tell if the fuel you are putting in your car is of poor quality.
Unfortunately in this case, as in many others, the saying “if you don’t experience it you won’t learn” applies, however, with a little more care you may be able to avoid any damage to your car. engine.
Essence: The cartel trick to rob us
Consumers complain about precision, while oil cartels get rich at their expense!
The sad records of the Greek liquid fuels market continue, and in the latest data published by the European Commission, with data from December 5, unleaded petrol in Greece was the most expensive in Europe, as it is consistently for several months.
Indications are now strong that the big trick of market operators is not to pass on to consumers the sharp fall that has been recorded in international oil prices, but to keep a large part of it to bolster their profits, which have soared this year to record levels.
In particular, according to the latest data from the Commission’s fuel report, unleaded petrol in Greece was once again the most expensive in Europe, with the average price being 1,957 euros per litre, with a slight decrease compared to the previous week (1,989 euros).
Greek consumers pay 15% more for petrol than the average price in the EU. than 27 countries and 12% more expensive than the average price in the 19 eurozone countries, according to Commission data.
In countries with high incomes and also high fuel taxes, such as Germany and the Netherlands, consumers pay much less for unleaded than in Greece, at 1.8 euros per litre.
From the data on the price development in the Greek market this year and the parallel development of international oil prices, it is quite clear that Greece is experiencing the “rocket and wing effect”, as it has been called economists:
When international prices rise, domestic market prices soar, but when international prices fall, local prices fall at a much slower rate, reminiscent of the fall of a feather.
In early June, the price of Brent oil, the global benchmark for crude oil, hit its 2022 high of $122 a barrel.
In this frantic upward movement in the price of crude oil, the prices on the Greek market, as we know, reacted very dynamically, so that at the beginning of June the average price in Greece jumped at the level of 2.4 euros per litre.
After this peak, the price of Brent followed a downward trajectory, falling more than 35% in the last period. But prices in Greece have fallen at a feather-light pace, with a drop since June of around 16%.
With these approximate calculations, it appears that the contributors to the fuel market, that is to say mainly the two vertically integrated refining groups (Motor Oil and ELPE) which at the same time control the largest trading companies and the large networks of ever-expanding retail gas stations, are passing on to Greek consumers this year less than half of international prices.
The current year is the best in the history of these two vertically integrated groups, which are posting record profits, while the Ministry of Finance estimates that it will reap more than 600 million euros from the imposition of the tax Extraordinary European on their super profits.
Consumers, however, can’t seem to expect more reasonable gasoline prices at gas stations anytime soon.
Behind the “wing-rocket” phenomenon, as found in the international literature on competition, generally hides the collusion of market players to fix prices, which falls within the competence of the control of the Competition Commission.
The Commission has already intervened on the subject, but, in any case, the pace at which it is advancing does not guarantee a rapid result, and it has already intervened extensively in the past on the fuel market, without achieving the (difficult) objective of restore the conditions of effective competition.
