It seems that this year, Easter trips will come with the price of regular unleaded petrol exceeding 2 Euros, as fuel prices continue to rise.
This is despite the fact that the new developments in the Middle East crisis “serial” has not yet been invoiced.
According to the latest data from the Price Observatory of the Ministry of Development, the average price of regular unleaded petrol nationwide was €1.97 last Tuesday, already recording an increase of about €0.15 since February.
This confirms that Greece remains steadily the second most expensive country in Europe.
Notably, in the latest daily price bulletin from the Ministry of Development published yesterday, the highest average price was recorded in the Cyclades prefecture at €2.19 per liter. Following were the Dodecanese prefecture at €2.12, Kefalonia prefecture at €2.04, and Lefkada prefecture also at €2.04. The lowest average price was recorded in the Thessaloniki prefecture at €1.93 per liter.
The problem in the market’s outlook, which many industry stakeholders believe will not change direction, at least until Easter, is that the current price levels have not yet “absorbed” the latest increase in international prices due to the escalation of the crisis in the Middle East. However, they are more closely linked to the already upward trajectory of the last quarter, which accelerated in the last two weeks.
Specifically, the price of Brent crude oil, which was around $76 per barrel at the beginning of 2024, rose to about $85 at the end of March and, days ago, amid concerns about Iran’s strike on Israel, surpassed $91. Yesterday, the price was hovering around $88.
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Reductions in fresh vegetables and meat prices
Contrary to what is happening with fuel prices, it seems that this Easter the prices for meats and vegetables will be lower compared to last year, at least according to the data available so far. This is because wholesale prices appear to be lower for most product codes compared to 2023, based on the official prices announced by the Central Markets and Fisheries Organization. However, there are vegetables such as potatoes, carrots, and coconuts that continue their upward trend, as do the overwhelming majority of fruits.
According to the latest price bulletin from the Central Markets and Fisheries Organization, among the main vegetables and fruits that show increased wholesale prices are potatoes, domestic (€0.72 from €0.58) and Egyptian (€0.55 from €0.48), coconuts, piece (€0.30 from €0.23) and imported per kilogram (€2.20 from €1.70), crystal pears (€1.50 from €1.20).
On the other hand, those showing lower wholesale prices compared to last year are cucumbers, which are half the price compared to last year, tomatoes (€1.10 from €1.50), and onions (€0.90 from €1.05) per kilogram.
Regarding meats, it appears that this year the price of beef will be slightly lower based on wholesale prices, as they are currently shaping up.