Greece braces for steep heating bills as oil prices top $100 a barrel
Rising global oil prices above $100 a barrel are prompting Greece to warn of higher diesel and heating oil costs, with the government considering extending subsidies.
A sharp rise in Brent crude, now exceeding $100 a barrel, is driving up fuel and heating costs in Greece, where diesel remains above €2 per litre even with a 10-cent government subsidy and a 5-cent refinery rebate. Heating oil is expected to launch on 15 October at prices that could surpass €1.90 per litre, compared with €1.10 at the start of the last heating season. The Ministry of National Economy and Finance is tracking price movements each day and has left open the option of further measures if the trend continues.
One proposal under review is extending the diesel subsidy through October, funded partly from a €130 million reserve. Market groups are urging direct pump subsidies for heating oil, while the Social Climate Fund will add €100 annually to heating allowances for about 780,000 beneficiaries from 2027 onward.
