Greek Islands Could See Fuel Price-Cap as Costs Soar

Rising costs for unleaded fuel in the southern Aegean islands has prompted Greek regulators to consider a two-month price cap.

A report in Kathimerini states energy regulators’ research shows drivers on Sikinos are seeing prices at €2.045 ($2.372) a liter while other islands, such as Andros, Milos and Naxos are seeing prices of €2 a liter.

According to the Liquid Fuel Prices Observatory, gasoline prices in some areas have exceeded €2 per liter. In Fourni village on Ikaria, unleaded gasoline is selling at €2.035 per liter and in Ikaria in general fuel prices are very high, while the average price in the Samos prefecture has reached €1.815 per liter.

Oil prices have decreased to $73 a barrel, at least $5 down from the high about a month ago, but prices in the Greek market remain high due to increased demand.

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