Over the past year, the familiar sight of billboards with fuel prices at gas stations has caused a lot of emotions among drivers and passers-by. However, for ten days now, one feeling has prevailed: surprise. Among the many paradoxes of the energy crisis diesel engine it’s more expensive than gasoline.

This phenomenon is observed not only in our country. Traders and energy officials around the world are rubbing their eyes on the diesel price rally.

Tentatively, according to the Liquid Fuel Price Observatory of the Ministry of Development, yesterday, October 18, the price of gasoline in the country was 2036 euros compared to the previous month. 2142 for diesel engine.

The reasons why this happens are complex. Crude oil and its derivatives are traded stock market. Depending on the type of fuel and the exchange on which transactions take place, its price may vary, although the fluctuations are small.

For reasons that will be explained later, diesel fuel in Greek refineries is currently the most expensive of the petroleum products, even without taxes, even though the excise tax on gasoline is higher. Therefore, the final price paid by the consumer is even higher.

“At refineries before taxes, diesel fuel is already more expensive than gasoline. At the moment it is the most expensive petroleum distillate. Last week, reached 200 euros per barrel“, notes about George Massalisformer president of the Oil Companies Trade Association.

As explained George Asmatogluvice president of the Association of Fuel Dealers, the price of diesel fuel is in the red as a result of the law of supply and demand.

This is due to the fact that, on the one hand, the demand for gasoline was limited. On the other hand, industries and factories in Europe limited the use of natural gas (because it is also expensive) and they switched to diesel. It is significant that in our country energy companies plan to convert five power units to diesel fuelin the event of a complete shutdown of Russian gas.

Market and citizen representatives are eyeing possible government announcements of its restoration subsidy for diesel fuel at a gas station. According to an energy professor at the University of Piraeus, the fact that this subsidy has been cut is one of the main reasons for the problem. Nikolaos Faradouris.

“More expensive diesel fuel exacerbates the problems of inflation and high energy prices. Right now there are huge profits from the few. Contradictory messages have been given regarding the bonus policy and priorities in the energy sector,” notes Mr. Farandouris “K”.

And, of course, the negative impact on our pocket is not limited to commuting, but also extends to shopping for groceries in supermarkets. This is because diesel fuel is widely used in shipping and transport in general. As reported in “K” bazaar people, when most of the food sold in supermarkets, greengrocers and bakeries is imported and diesel vehicles are almost prohibitively expensive, the impact on the supply chain will be enormous.

International developments

In addition to increased demand, there are other reasons for the high cost of diesel fuel. First, the question of stock And her adequacy certainly creates shocks in the market, especially on the eve of winter.

His recent decision OPEC+ the decline in production (and hence the reduction in supply) has been the catalyst for rising prices for crude oil and refined products. Especially in Europe, the problem is exacerbated because of it. refinery strike in Francewhere we saw drivers queuing at gas stations.

With all this data, it remains doubtful what will follow full implementation of the embargo on Russian oil since December 5, 2022 under European sanctions against Moscow. And there are many who predict an unpredictable and “toxic” picture of diesel price fluctuations.