Bloomberg News

Greece Sets Fuel Price Cap as Customs Strike Leads to Increase

October 14, 2011

Oct. 14 (Bloomberg) -- Greece set a maximum limit for the cost to buy car fuel after the start of a strike by custom officials led to price increases.

Greek customs workers declared a 10-day strike from today, to protest planned wage and pension cuts, threatening fuel supplies because delivery from refineries in Greece to petrol stations needs clearance from customs.

“Statistical data for all consumer petroleum products from across the country showed an increase in retail prices which is not the result of refining price hikes,” Deputy Development Minister Socratis Xinidis said in a statement that was e-mailed today from his Athens-based ministry.

The price cap, effective from tomorrow, was set at 1.643 euros ($2.27) a liter for 95-octane unleaded petrol in the Athens region and 1.458 euros a liter for diesel fuel. The corresponding prices in the second-largest city of Thessaloniki were 1.627 euros and 1.444 euros.

--Editors: Tim Farrand, Peter Woodifield

To contact the reporter on this story: Paul Tugwell in Athens at

To contact the editor responsible for this story: Angela Cullen at

Steve Ballmer, Power Forward
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