Fuel prices in Crete stay above €2 a liter as government extends diesel subsidy
Fuel prices across Crete remain high, with unleaded petrol at most filling stations in the region holding steady above €2 per liter. The Greek government has decided to extend for another month a state subsidy of 0.10 euros on diesel fuel, in an effort to contain inflation, according to reporting on the measure.
Data from the national fuel price observatory show only minor variations across Crete’s four prefectures. In Heraklion, the average price of 95-octane unleaded petrol is calculated at €2.077, 100-octane unleaded at €2.256, automotive diesel at €2.065, and automotive LPG at €1.103.
In Lasithi, the equivalent prices for the same products are €2.081, €2.290, €2.070 and €1.042. In Rethymno, they stand at €2.082, €2.303, €2.048 and €1.019, while in Chania the observatory recorded €2.058, €2.276, €2.036 and €1.000.
Energy company Helleniq Energy said it is continuing, until September 30, the special discount it applies to 95-octane unleaded petrol and diesel. Combined with the state subsidy, the measure translates into a reduction of roughly 15 cents per liter on diesel and 10 cents on unleaded petrol compared with prices that would otherwise apply.
Specifically, on regular unleaded petrol, the Helleniq Energy discount remains at 7.95 cents per liter before VAT, or about 10 cents in the final price. On diesel, the company maintains a discount of 4.05 cents before VAT, around 5 cents including VAT, while the state subsidy of 8 cents per liter before VAT, about 10 cents with VAT, also continues.
How much drivers save
For 95-octane unleaded petrol, the Helleniq Energy discount, including VAT, amounts to roughly 10 cents per liter. That translates into savings of about €4 for 40 liters, €5 for 50 liters and €6 for 60 liters. On diesel, the saving is larger because the Helleniq Energy discount is combined with the state subsidy, totaling around 15 cents per liter — €6 on 40 liters, €7.50 on 50 liters and €9 on 60 liters. For the larger volumes typical of commercial transport, the saving reaches about €15 on 100 liters and €30 on 200 liters. Visitors covering long distances with a rental car in Crete would see comparable per-liter savings at the pump.
Brent crude above $91
Brent crude oil is once again in focus, as markets have so far received no clear signal of de-escalation on the geopolitical front. The price of crude exceeded $91 per barrel again yesterday, reaching about $91.5, before easing slightly and trading near $91. Despite the pullback, levels remain unusually high and raise concern about the impact on the global economy, with rising oil prices gradually feeding into transport costs and, eventually, new pressure at the pump.
Refinery price trends
The picture at Greek refineries is seen as an indicator of what consumers may see at the pump in coming days. According to the data cited in the report, the refinery price of unleaded petrol stands near €1.50 per liter before VAT. Diesel, by contrast, is showing a decline, with the price at around €1.38, and further easing expected once the subsidy is applied. This gap is creating a different picture for petrol compared with diesel, with unleaded facing greater pressure from international price trends. Available data for the Greek market confirm that fuel prices remain above the €2 threshold across much of the country.
Natural gas hits 44-month high
Greater concern surrounds the trajectory of natural gas. Prices have returned to levels not seen since January 2023, with the market now trading above €70 per megawatt-hour and approaching €71/MWh — a 44-month high that has revived fears of higher energy costs during the winter. The challenge is described as twofold: Europe needs to build up gas storage reserves ahead of colder temperatures, while increased demand to meet winter needs could put further upward pressure on prices.
Electricity prices under pressure
The rise in natural gas prices directly affects electricity, since a significant share of power generation is tied to gas-fired plants. Higher fuel costs raise production costs and put pressure on the wholesale electricity market, where prices have climbed by more than 20%. Attention now turns to announcements expected this afternoon from electricity providers on their September “green” tariffs. According to market sources, there is an effort to keep final charges close to August levels, though this is considered particularly difficult given the wholesale price increase. The coming hours are seen as critical for how electricity bills will be shaped.
