Crude oil price surges impact fuel costs in Greece and North Macedonia

Global crude oil prices are experiencing upward volatility, impacting fuel costs across Southeast Europe. Brent crude recently rose to $101.80 per barrel, driven by supply concerns in the Middle East and weather-related production risks in the Gulf of Mexico. WTI crude also saw increases, reaching approximately $89.90 per barrel.

In Greece, average prices for unleaded gasoline remain above €2.00 per liter, reaching approximately €2.20, while diesel averages around €2.18. High taxation is noted as a significant factor in the total cost of fuel within the country. Regional variations exist, with different prices recorded across various prefectures.

In North Macedonia, the rise in global oil prices follows a recent period of price decreases for gasoline and diesel. While the increase in crude oil creates pressure on domestic markets, local retail prices are subject to decisions by the Energy Regulatory Commission, which considers reference price movements and dollar exchange rates.