Countries with the most expensive fuel | Greece's case study

[bakasabo]

Dont forget about excise tax. It differs from country to country. The price spread of pure oil is not that huge if we compare prices. Excise tax is what makes fuel price so high. There are European countries where fuel suppliers pay 500 EUR excise tax for every 1000 liters. Government could have decreased excise tax, but they prefer to collect more taxes, and complain about deficit in budget. So if you want to study fuel prices, start with excise tax, only then you would find most expensive fuel. Because it might be, that fuel itself cost less compared to other country, while fuel price on petrol station is higher.

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[Lucius]

Anyway, I believe not being in the Eurozone as a benefit anymore, since most countries I've seen that still have their own currency are in a way better standing than we are. Inflation here is soaring while wages are quite terrible for the majority of the population.

Common measures and policies do not always have the same effect on every EU member state, and this is quite logical because each country has its own specifics. While the ECB is still not doing anything concrete to stop inflation, non-eurozone members have some financial instruments to do something to protect their residents. Unfortunately, the EU's weaknesses are best seen now, but will only be felt in the near future when everyone can feel it on their skin.

Dont forget about excise tax. It differs from country to country.

It is true that the price of fuel has two very important components that are different in all member states, and it is about the tariffs and VAT. Data from 1 year ago show that these tariffs are highest in the Netherlands, Italy, Greece, Finland, and France, and lowest in Hungary, Bulgaria, Poland, and Romania (non-eurozone members).


Source

[Ultegra134]

Dont forget about excise tax. It differs from country to country. The price spread of pure oil is not that huge if we compare prices. Excise tax is what makes fuel price so high. There are European countries where fuel suppliers pay 500 EUR excise tax for every 1000 liters. Government could have decreased excise tax, but they prefer to collect more taxes, and complain about deficit in budget. So if you want to study fuel prices, start with excise tax, only then you would find most expensive fuel. Because it might be, that fuel itself cost less compared to other country, while fuel price on petrol station is higher.

That's correct, in Greece, we have an excise tax of 700 euros per 1000 liters, which equivalents with 0.70 cents in each liter. Other countries such as Cyprus, have at least lowered the excise tax temporarily, till the situation settles.

Anyway, I believe not being in the Eurozone as a benefit anymore, since most countries I've seen that still have their own currency are in a way better standing than we are. Inflation here is soaring while wages are quite terrible for the majority of the population.

~snip~

Dont forget about excise tax. It differs from country to country.

It is true that the price of fuel has two very important components that are different in all member states, and it is about the tariffs and VAT. Data from 1 year ago show that these tariffs are highest in the Netherlands, Italy, Greece, Finland, and France, and lowest in Hungary, Bulgaria, Poland, and Romania (non-eurozone members).
Source

The graph is from 2020's first quarantine, and as you can see, we still had one of the most expensive fuels in Europe, but still, seeing €1.30-€1.40 at the pump was a delight to say the least.

[Lucius]

The graph is from 2020's first quarantine, and as you can see, we still had one of the most expensive fuels in Europe, but still, seeing €1.30-€1.40 at the pump was a delight to say the least.

You're right, I was somehow convinced that it was a chart from 2021, so I wrote that it was something 1 year old. On the page that is the source of the chart, I found data from March 2021, where you can see how the shares in fuel prices and tariffs, and VAT increased. At the moment, I do not see how the situation can be improved, unless the states give up even more money in favor of ordinary people when it comes to tariffs and VAT.

For those who travel every day and use their own car, the situation is not pleasant at all - and the only thing they can suggest is to try to organize themselves in such a way that more people traveling in the same direction drive with one vehicle and share the costs. It's not very practical, but if someone spends $400 a month on fuel, it can be reduced to $100 if we take into account that there are 4 people in the car.

https://www.fuelseurope.eu/data-room/breakdown-of-automotive-gasoline-prices-across-eu-27-march-2021/

[bakasabo]

I would say that regular petrol price in my country is close to 2 EUR price. Every day price is balancing between several cents. I think month ago, we had a situation when diesel fuel cost more than petrol, but right now the situation has returned to pre-war, when diesel cost 5-8 cents less than regular petrol. As usually, this excise tax is half of a petrol price. Decreasing it for a while would greatly help those who travel a lot.

Personally, I have decreased car usage. The amount spend on fuel for traveling home-work-home weekly equals the cost of a monthly public transport ticket. I have replaced short rides and car rides to work with electric scooter. I've have bought it used, and costs paid off long time ago.

[wiss19]

Greece and Italy too are "in my book" somewhere at the "far end of the pipe", i.e. I think that logistics may be playing an important role in the price, no matter it's a real pipe or it's about transportation on the road.
For those living near the northern part - close to Macedonian border - refueling abroad is a real deal.
Many tourists also do the same - refuel in Macedonia, just before entering Greece.
All this is known and it's not new at all. Of course, in the same way the fuel prices skyrocketed everywhere, they did - most probably proportionally - also in Greece.

There are tons of people who do this all over the world though, it is not just based on Greece or any other nation. I have seen it around my nation, seen it in other nations as well, even people in USA do it with Mexico. In fact, this is done with many sectors, like how Americans have literally "healthcare tourism" to Canada for example, because even with insurance, the charges are capped hence why it's cheaper. Many people who live in places like detroit for example end up going to Canada for dentist appointments.

All of this matters a a lot, not common and great but it is definitely done by many people. So going to another nation for something cheaper there is a common thing.

[NeuroticFish]

All of this matters a a lot, not common and great but it is definitely done by many people. So going to another nation for something cheaper there is a common thing.

That's correct. But I was not criticizing, although I somewhat think that this is how you see my post. No, I was explaining that Greece's overly high prices for fuel are not new and they're well known.

[Ultegra134]

All of this matters a a lot, not common and great but it is definitely done by many people. So going to another nation for something cheaper there is a common thing.

That's correct. But I was not criticizing, although I somewhat think that this is how you see my post. No, I was explaining that Greece's overly high prices for fuel are not new and they're well known.

I'd it too if I had the option to be honest, like wiss19 suggested, it's a common practice in medical procedures too. I've heard quite a few instances of people coming from the USA, to fix their teeth here, because the same procedure could cost 10-20 times less. Dental bridges, for instance, cost a fortune in the US, but they're relatively cheap here, especially if you take into account the US's wages.

The same thing also occurs in other Balkan countries, such as Serbia or Bulgaria, where teeth procedures are extremely cheap compared to the rest of Europe.

[Ultegra134]

A few weeks ago, the government provided most citizens with a prepaid card, with a balance ranging from 40€ to 55€, depending your geographic location. To be honest, such measure is a drop to the ocean, doesn't even provide us with a temporary solution. A new fuel pass is now being discussed to he distributed in June or July, which also won't solve a thing.

Rumors have it that due to upcoming elections that may occur within the end of the year or during the start of 2023, the excise tax may be reduced, as a promotional measure for the elections.

[Fortify]

Due to the ongoing war, inflation along with fuel prices have skyrocketed among the globe, with households not being able to keep up with the increased living costs. However, the impact of the increased living costs differ from country to country.

Let's take Greece's case for instance, which is the country of my residency. According to CNN Greece and MurciaToday, it has the third more expensive fuel in Europe, averaging 2.17€/liter of 95 unleaded, right after Finland and Denmark at 2.218€/liter and 2.208€/liter respectively. On top of that, the average mentioned price isn't that accurate anymore, due to the article being two days old already and the prices are increasing on a daily basis. The average is close to 2.20-2.22€/liter, but that could also be valid for the other two mentioned countries.

However, Denmark and Finland have one of the highest salaries and considerably best living conditions in Europe. Denmark on the one hand, doesn't feature an official minimum wage, but statistics show that the average income per individual is $2580 (~2450 euros). Finland on the other hand, also doesn't have an official minimum wage imposed, however the minimum salary someone can expect starts from €1.500 to €2.500. Greece's minimum wage however, doesn't exceed €713 before taxes. It's pretty obvious that you can easily see the difference.

The Greek citizens are suffering from the increased living costs, since everything has skyrocketed in price, from daily expenses such as gas and going to the supermarket, to electricity and utility bills. Personally, in my area petrol costs €2.35/liter, while I had to pay €300 for my electricity bill (4 months period), while increases in daily groceries have surpassed 20% in some products, such as meat and vegetables.

Sources: https://m.murciatoday.com/diesel_prices_in_spain_exceed_eu_average_for_first_time_1776291-a.html

https://www.cnn.gr/oikonomia/story/313066/spaei-ta-konter-i-timi-tis-venzinis-aplisiasta-ta-pratiria-sta-nisia/amp

It's always interesting to see such observations but it is really hard to make comparisons between countries for so many factors like the ones you describe. I think generally in Europe and similar countries in "The West" we have incredibly privileged and relatively stable lifestyles, even when you factor in recent issues with inflation - the effects are much worse elsewhere. You make some reference to Scandinavian countries and their politicians were surprising sensible and honest with using funds gathered from oil extraction, putting it into sovereign wealth funds which give their citizens a much greater return over the long term than allowing a few companies to profit huge amounts that only benefit shareholders.

[Findingnemo]

Its funny to see some of the members are suggesting EVs to deal with the increase in fuel price but running car isn't the only thing we get affected whenever the price of fuel increase. Increase of fuel price affect every consumer goods which affects the living cost even contribute to the further increase of inflation when the market is already down due to economic crash all over the world. Finding the alternative source is long term and need bigger change in the current infrastructure so government has to stop spending the taxes for their defence and start spending it in the more useful ways. How many of you agree with it?

[Sir Legend]

My country still provides subsidies for diesel and oil so it is still cheap compared to many countries, the price of 1 gallon of oil is around $5, oil is an important factor that can make the economy better or trigger inflation so the government is very serious about maintaining oil stocks.

[Ultegra134]

Its funny to see some of the members are suggesting EVs to deal with the increase in fuel price but running car isn't the only thing we get affected whenever the price of fuel increase. Increase of fuel price affect every consumer goods which affects the living cost even contribute to the further increase of inflation when the market is already down due to economic crash all over the world. Finding the alternative source is long term and need bigger change in the current infrastructure so government has to stop spending the taxes for their defence and start spending it in the more useful ways. How many of you agree with it?

I love the concept of electric cars, however, I believe that they're a still at a relatively early stage of development, which makes it hard to be widely adopted. If I were to buy one with a decent battery autonomy, I'd have to spend more than $40.000-$50.000. We can hardly afford to pay the extravagant fuel prices, let alone buy an expensive brand-new car. In the future perhaps, when the prices drop to more feasible levels, I'm pretty sure they'll be a number one option for most consumers.

[Findingnemo]

Its funny to see some of the members are suggesting EVs to deal with the increase in fuel price but running car isn't the only thing we get affected whenever the price of fuel increase. Increase of fuel price affect every consumer goods which affects the living cost even contribute to the further increase of inflation when the market is already down due to economic crash all over the world. Finding the alternative source is long term and need bigger change in the current infrastructure so government has to stop spending the taxes for their defence and start spending it in the more useful ways. How many of you agree with it?

I love the concept of electric cars, however, I believe that they're a still at a relatively early stage of development, which makes it hard to be widely adopted. If I were to buy one with a decent battery autonomy, I'd have to spend more than $40.000-$50.000. We can hardly afford to pay the extravagant fuel prices, let alone buy an expensive brand-new car. In the future perhaps, when the prices drop to more feasible levels, I'm pretty sure they'll be a number one option for most consumers.

Again we only talk about the electric cars but this isn't end with the cars alone, I am talking about moving the goods from ship to truck, even we are in the development of electric trucks but what about moving the billion tonnes of cargo across all over the world.

[Ultegra134]

Its funny to see some of the members are suggesting EVs to deal with the increase in fuel price but running car isn't the only thing we get affected whenever the price of fuel increase. Increase of fuel price affect every consumer goods which affects the living cost even contribute to the further increase of inflation when the market is already down due to economic crash all over the world. Finding the alternative source is long term and need bigger change in the current infrastructure so government has to stop spending the taxes for their defence and start spending it in the more useful ways. How many of you agree with it?

I love the concept of electric cars, however, I believe that they're a still at a relatively early stage of development, which makes it hard to be widely adopted. If I were to buy one with a decent battery autonomy, I'd have to spend more than $40.000-$50.000. We can hardly afford to pay the extravagant fuel prices, let alone buy an expensive brand-new car. In the future perhaps, when the prices drop to more feasible levels, I'm pretty sure they'll be a number one option for most consumers.

Again we only talk about the electric cars but this isn't end with the cars alone, I am talking about moving the goods from ship to truck, even we are in the development of electric trucks but what about moving the billion tonnes of cargo across all over the world.

Tesla is already receiving orders for their Semi, by depositing a $20.000 down payment. If I'm not mistaken, deliveries are claimed to start from 2024, according to Elon Musk. A few other companies are also said to develop, or have developed smaller trucks already, such as BYD or Daimler. It would be interesting to see what range they'll achieve, because they're way too heavy, and how fast they'll charge

[Naficopa]

Tesla is already receiving orders for their Semi, by depositing a $20.000 down payment. If I'm not mistaken, deliveries are claimed to start from 2024, according to Elon Musk. A few other companies are also said to develop, or have developed smaller trucks already, such as BYD or Daimler. It would be interesting to see what range they'll achieve, because they're way too heavy, and how fast they'll charge

I wish the whole world turns to these environment friendly vehicles - and there is no need for fuel - this OIL war has done so much damage to the world. The monopoly is not going to end and there will be no peace on the earth if the same situation continues.

[Cling18]

Even small countries are suffering from fuel price hikes. I wonder why even our country's fuel price is rising each week when our fuel supply isn't from countries that are experiencing war. In this case, even the inflation rate is rising continuously and everyone is tragically suffering. I hope they could do a solution to this problem which we have been facing for years and is getting worse each year.

[Naficopa]

Even small countries are suffering from fuel price hikes. I wonder why even our country's fuel price is rising each week when our fuel supply isn't from countries that are experiencing war. In this case, even the inflation rate is rising continuously and everyone is tragically suffering. I hope they could do a solution to this problem which we have been facing for years and is getting worse each year.

There will be no solution to this problem. The fuel crisis is a curse we all have received.
The crisis is server in Sri Lanka and Pakistan and they are also facing political turmoil in there. Just because they refrained from not participating in the wars of other.

[be.open]

Tesla is already receiving orders for their Semi, by depositing a $20.000 down payment. If I'm not mistaken, deliveries are claimed to start from 2024, according to Elon Musk. A few other companies are also said to develop, or have developed smaller trucks already, such as BYD or Daimler. It would be interesting to see what range they'll achieve, because they're way too heavy, and how fast they'll charge

I wish the whole world turns to these environment friendly vehicles - and there is no need for fuel - this OIL war has done so much damage to the world. The monopoly is not going to end and there will be no peace on the earth if the same situation continues.

Instead of the current problems with gasoline, problems with electricity will begin, that's all.

[Ultegra134]

Tesla is already receiving orders for their Semi, by depositing a $20.000 down payment. If I'm not mistaken, deliveries are claimed to start from 2024, according to Elon Musk. A few other companies are also said to develop, or have developed smaller trucks already, such as BYD or Daimler. It would be interesting to see what range they'll achieve, because they're way too heavy, and how fast they'll charge

I wish the whole world turns to these environment friendly vehicles - and there is no need for fuel - this OIL war has done so much damage to the world. The monopoly is not going to end and there will be no peace on the earth if the same situation continues.

Instead of the current problems with gasoline, problems with electricity will begin, that's all.

Well, Brent oil has spiked to $125/barrel, which will send prices over 10 cents per liter, surpassing €2.45/liter of unleaded 95 petrol. As you've said yourself, the situation is bound to get worse, and I'm not sure how our citizens will make ends meet, including myself. Electricity will become a huge issue in the upcoming weeks, they are already discussing to ban cars on Sundays, limit A/C usage and a few other measures that I cannot recall at the moment.