By Chrysostomos Tsoufis

It premieres today heating oil with a price that according to market factors will be below €1.40/litre , between €1.38-€1.39 in urban centers. On the islands and in the region it may reach €1.45/litre. In any case, the calculations of the Ministry of Finance are justified, which announced that this year’s prices – although of course high – will be a little lower than last year’s. Last year the distribution of heating oil started at €1.41 after a double subsidy at the pump from public funds and refineries.

This year’s price could even be even better if the events at Middle East they did not stop the downward course of international oil prices and if in the last 3 months the dollar did not gain almost 5% against the euro. No subsidy is provided for this year by the budget (the EKO announcement 5% discount until November 17 and 12 interest-free installments with credit and it is possible that other companies will follow), but the government will monitor the course of prices and is ready to intervene in case that the fragile balance that has been formed, is disturbed. Things are on a tightrope as there are many analyst reports that if Iran gets involved in Israel’s war, it will send black gold prices skyrocketing. That is why market players are urging people – who are currently unwilling to order heating oil either because of good weather conditions or because they have stock from last year – to buy now because the future is uncertain.

Since there is no subsidy, the only support for households is heating benefit. Last year 1.3 million received it and like last year the allowance will be between €100 – €800 with an increase to €1000 for the coldest areas. It is also increased by 20% for each child. This year, the doubling of the allowance is NOT valid for those who “gave up” natural gas to switch to natural gas.

The final amount of the heating allowance is obtained by multiplying the base of 350 by the so-called degree day factor which is different for each region of the territory depending on how cold it is. E.g. An unmarried resident of Karpenisi will receive €378. If he had a child, he would receive €453.60 (20% increase). The same beneficiary in the municipality of Athens would receive €150.5.

The heating allowance will be given based on the following income criteria:

-€16,000 for the unmarried

-€24,000 for the married man

– This year, however, the income criterion is being increased from €3,000 to €5,000 for each child.

-For a single-parent family – without the additional child – the limit is set at €26,000

At the same time, this year a cutter is introduced for natural persons who carry out business activity so that if they have more than €80,000 in annual turnover, they are not eligible.

There is also a property limit, €200,000 for unmarried beneficiaries and €300,000 for married ones. In total, the measure will cost €237m (from €280m last year).