Lower prices than last year for heating oil and the petrol are formed so far in the market, at the beginning of the winter season. The price of electricity is close to last year’s levels but with upward trends according to the indications so far from the Energy Exchange in October.
The distribution of heating oil began last Wednesday at prices starting at 1.09 euros per liter for orders in large urban centers, compared to 1.18-1.19 euros per liter last year at the start of the heating season nationwide and 1.16-1.17 in Attica. Prices are scaled up for small orders as well as in remote areas. On the other hand, several companies offer interest-free installments or discounts for purchasing with a credit card.
Until now, oil orders from consumers have also been restrained, due to the weather or expectations for a drop in international prices that will be passed on to consumer prices. The latest monthly report from the International Energy Agency (IEA) points to a rapid increase in supply and less demand, which creates conditions for a decline in prices. However, the prospect of Russian sanctions and reduced refinery availability according to the IEA may keep prices down.
There is also a positive picture from motor fuels, where prices are also at lower levels than last year. The average price of unleaded at the beginning of October was 1,744 euros per liter from 1,778 euros last year and of diesel motor 1,538 euros this year from 1,547 euros last year.
For electricity the average consumer price with taxes in September was 22.96 cents per kilowatt hour (below the EU average of 25.43 cents (data from VaasaETT monthly survey). In the corresponding month last year the price was 23.02 cents.
The prices on the Energy Exchange during the first 15 days of October moved upwards, at 130.95 euros per megawatt hour compared to 92.77 euros which was the average price in September. If the picture does not change by the end of the month, it is likely that retail tariffs will also increase, from which, however, those who have chosen fixed tariffs are protected, many of which are even cheaper than the wholesale prices set on the stock exchange.
Source: Skai
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